Winchart Technical Analysis - Daily Market analysis
As indicated by A, the FBM2nd Board Index tested the 14, 21, 31 EMA dynamic resistance again on Tuesday, closing at its daily high of 6638.70 points. If the FBM2nd Board Index should break out from the dynamic resistance successfully, there would be more upside room for the FBM2nd Board Index.
As circled at B, the Stochastic is still showing a short term bullish signal, with the Stochastic staying above the 70% level. Therefore, as long as the Stochastic can remain above the 70% level, the market movement for the short term is still bullish biased.
As circled at C, the MACD histogram is still rising, suggesting that the FBM2nd Board Index is still improving. Therefore, the improvement of the FBM2nd Board Index is expected to continue until the MACD histogram forms a round top signal.
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