As indicated by A, although the KLCI had its early rebound, it could only rebound 0.89 of a point to close at 1624.20 points. For now, the KLCI is still testing its 1625 support, and still unable to break away from its short-term negative movement. Next support for the KLCI is at 1600 psychological level while the resistance is 14, 21, 31 EMA dynamic resistance followed by 1680 historical high.

As indicated by B, total market volume increased 20.37%, with participation becoming slightly active. However, the score board is still showing that losers outnumbering gainers (298 gainers vs 358 losers), and therefore, this implies that the selling pressure is still high.

As indicated by C, the Stochastic failed to break above 30%, thus the short-term bearish movement for the KLCI is still intact.

In conclusion, the immediate technical outlook for the KLCI remains on the negative side, but technically, we can't call a downtrend formation yet, for the KLCI has not formed lower-highs.