FTSE Bursa Malaysia index could fall further, technicals show

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(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.