What technical supports define the FBM KLCI’s downside today?

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Downside supports for the FBM KLCI today are 1,740 and 1,709
The FBM KLCI’s downside technical supports for today are set at 1,740 and 1,709, according to Maybank Investment Bank’s market note. The index was trading lower at 1,755.81 around 9.05am, after opening at 1,761.56 versus the previous close of 1,764.16. The same note also framed the expected trading range for the day as 1,740 to 1,780.
The two downside support levels highlighted for today
Maybank Investment Bank identified 1,740 as the first downside support level for the FBM KLCI. It also flagged 1,709 as the next lower support if the index moves further down from that level.
The expected intraday trading range that frames the supports
The note expects the FBM KLCI to trade between 1,740 and 1,780 today. With 1,740 positioned at the lower end of that range, it aligns with the first downside support level stated in the same technical view.
Where the index was trading when the levels were given
At 9.05am, the benchmark FBM KLCI was at 1,755.81, after trimming 8.35 points from its opening and moving lower from the prior close. This placed it above the 1,740 support level at the time, with 1,709 as the further downside threshold.
Context on why volatility was expected around the holiday and central bank meetings
The note said the market could remain volatile today as investors turned risk-off ahead of Hari Raya and major central bank meetings. That backdrop accompanied the technical expectation of a 1,740 to 1,780 trading band and the downside supports at 1,740 and 1,709.

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What technical supports define the FBM KLCI’s downside today?

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