Since started its rebound on Wednesday, the KLCI is still having its technical rebound on Friday. As indicated by A, the KLCI remains below the 14, 21, 31 EMA dynamic resistance, thus the short-term weakness is still intact. Support for the KLCI remains at 1600.

As indicated by B, total market volume increased 34.35%, with volume breaking above the 40-day Volume Moving Average. The Score Board is showing some improvement, with gainers slightly more than losers (382 gainers vs 320 losers). This suggests there are more bargain buying amid the market rebound, but the selling pressure is still high.

As indicated by C , the Stochastic is still rising on Friday, after started breaking above 30% on Wednesday. This suggests that the KLCI is having its technical rebound. However, the Stochastic has not shown any short-term bullish signal for the KLCI.

In conclusion, after falling for the last four weeks, the current technical rebound is only normal for the KLCI. However, the immediate technical outlook for the KLCI remains on the lower side as the KLCI is still below the falling 14, 21, 31 EMA dynamic resistance.