Winchart Technical Analysis -
Daily Market analysis
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Despite another attempt to test the 14-EMA, the FBM2nd Board Index remains resisted by the 14-EMA on Friday, closing 10.53 points lower to 6782.13 points. Therefore, as indicated by A, the 14, 21, 31 EMA is still serving as the dynamic resistance for the FBM2nd Board Index. Nevertheless, 6658.04 points is still a support for the FBM2nd Board Index.
As circled at B, the WinChart RSI is still staying below the 30% level, which is still the mid term bearish region. Therefore, the mid term strength for the FBM2nd Board Index is still on the weaker side.
As circled at C, the Stochastic %D line continue rising. However, the Stochastic %K line failed to break above the 70% level, and therefore, the Stochastic is still showing a short term neutral signal.
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