As indicated by A, the KLCI had its early loss on Wednesday, but in the afternoon session, the KLCI was slightly lifted by some blue chips, regaining some of its early losses, closing at 1622.97 points, with a 1.23 point loss. For now, the KLCI could be consolidating.

As indicated by B, total market volume remain slightly below the 40-day Volume Moving Average, and this could suggest that the market sentiment is still at a cautious mood. Meanwhile, losers still outnumbered gainers with 275 gainers vs 349 losers, this implies that selling pressure is on the higher side.

As indicated by C, the Stochastic stays below 30%, it its short-term bearish territory. As a result, we don't see any technical rebound signal for the KLCI yet.

In conclusion, the KLCI could consolidate, but it has not broken away from its short-term weakness. Nevertheless, we do not see any downtrend formation nor the KLCI is falling into a bear run. Next support for the KLCI is at 1600 psychological level, while the resistance is at 14, 21, 31 EMA dynamic resistance followed by 1680.