Winchart Technical Analysis - Daily Market analysis
As shown on the chart above, the FBM2nd Board Index continued its falling movement after breaking below the 6588.28 support. Meanwhile, as indicated by A, the 14, 21, 31 EMA remain falling and serving as the dynamic resistance for the FBM2nd Board Index. Provided that the FBM2nd Board Index is still resisted by the falling dynamic, the outlook for the FBM2nd Board Index shall remain bearish biased.
As circled at B, the Stochastic remain below the 30% level, which is the short term bearish region. Therefore, if the Stochastic shall stay below the 30% level, the short term market movement for the FBM2nd Board Index is expected to be bearish biased.
As indicated by C, the momentum fall below the previous low on the 28th of Nov, 2007, suggesting that the current falling speed of the FBM2nd Board Index is faster than its rally speed. Therefore, the momentum is now suggesting a negative movement for the FBM2nd Board Index.
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