Winchart Technical Analysis -
Daily Market analysis
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As indicated by A, the FBM2nd Board Index remains resisted by the Bollinger Middle Band, which is still serving as the dynamic resistance to the FBM2nd Board Index. Therefore, if the Bollinger Bands Width should begin expanding with the FBM2nd Board Index remaining below the Bollinger Middle Band, it would be a bearish signal for the FBM2nd Board Index. Nevertheless, the next support for the FBM2nd Board Index is still seen at 7012.33 Fibonacci Retracement line.
As circled at B, the Momentum continue falling, while staying below the zero level. This shows that the current movement for the FBM2nd Board Index is still negative. Therefore, as long as the Momentum is still staying below the zero level, the movement for the FBM2nd Board Index shall remains negative biased.
As circled at C, the Stochastic remains below the 30% level, which is the short term bearish region. Therefore, provided that the Stochastic is still staying below the 30% level, the market movement for the short term shall remains bearish biased.
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