(July 18): Malaysia's major stock index FTSE Bursa Malaysia KLCI could extend its falls, technical charts suggest.
The index has cut below its 50-day exponential moving average (EMA), a negative sign.
It also has a strong resistance at its 200-day EMA.
MACD is below the signal line and is approaching zero line.
OBV indicator shows a bearish divergence.
RSI is at a 14-day low, a negative sign.
Index down 0.25% on Thursday, and has fallen over 1% so far this month.