As pointed by A, the 2nd board successfully rebounded from the 14, 21, 31 EMA, closing at its daily high of 98.49 points, up 1.87 points. This suggested that the 14, 21, 31 EMA is still the dynamic support to the 2nd board index. If the 2nd board index could remained it position above the dynamic support, it is likely to test the next resistance, which is at the Gap level of 99.40 points.

Although the 2nd board index rose higher on Thursday, the volume was on the other hand lower than Wednesday. Nevertheless, in order for the 2nd board index to sustain its upward momentum, volume must stay higher above the 40 days VMA level. (Study B)

On Thursday, MACD histogram ticked up and did not form a rounding top. However, readers are advised to pay attention to the development of the histogram for if it formed a rounding top, it would be a short-term weakening signal. (Study C)

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