Bursa Malaysia has finished lower in two straight sessions, slumping almost 15 points or 1 percent in that span.

The Kuala Lumpur Composite Index now rests just above the 1,615-point plateau and it's tipped to open in the red again on Friday.

RHB Retail Research (RHB) in a note today (July 26) said the FKLI extended its correction, falling 9.50 pts to close at 1,614 pts.

The index started yesterday's session at 1,622.50 pts.

After the weak opening, it retraced to the 1,611.50-pt low before the close.

The recent back-to-back bearish price action suggests that momentum is decelerating amid cautious sentiment.

The bulls may stage a rebound near the 50-day SMA line.

If the index falls below the moving average line, it will attract further selling pressure.

However, RHB said they expected strong support to emerge at 1,590 pts.

A fall below the 1,590-pt support level will dent market sentiment.

At this juncture, they will hold on to the positive trading bias – until the 1,590-pt support level is breached.

Traders should maintain the long positions initiated at the close of 4 Jul (1,624.50 pts).

To manage downside risks, the initial stop-loss is set at 1,590 pts.

The first support is still marked at 1,610 pts, followed by 1,590 pts.

On the upside, the first resistance is seen at 1,644 pts, followed by 1,670 pts.