Winchart Technical Analysis -
Daily Market analysis
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On Tuesday, the FBM2nd Board Index ended 25.40 points lower to close at 6738.08 points. As indicated by A, the 14, 21, 31 EMA remains falling and still serving as the dynamic resistance for the FBM2nd Board Index. Therefore, if the FBM2nd Board Index should continue resisted by the falling dynamic resistance, the outlook shall remains bearish biased. Support for the FBM2nd Board Index is still at 6658.04 level. If the FBM2nd Board Index should break below this support level, the outlook for the FBM2nd Board Index is expected to stay bearish.
As circled at B, the Stochastic continue falling on Tuesday. Luckily, at the moment, the Stochastic is still showing a short term neutral signal. If the Stochastic should break below the 30% level, it would be a short term bearish signal for the FBM2nd Board Index.
As circled at C, the MACD histogram continue ticking higher on Tuesday. If the MACD histogram should start falling and forms a rounding top, it would be a signal suggesting an end to the short term consolidation, and the short term movement for the FBM2nd Board Index is likely to turn bearish biased.
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