On Friday, the FBM2nd Board Index technically rebounded, closing 31.98 points higher to 5549.75 points. However, the technical rebound of one day does not change the downtrend of the FBM2nd Board Index as the 14, 21, 31 EMA dynamic resistance remains intact. (Study A). Nevertheless, since the FBM2nd Board Index managed to rebound from the 5436.22 level, the 5436.22 Fibonacci Retracement line is now the temporary support for the FBM2nd Board Index.

As circled at B, the WinChart RSI remains below the 30% level, which is showing a mid term bearish biased signal. This suggests that the market sentiment is still weak, and as long as the WinChart RSI is still below the 30% level, the weakness of the FBM2nd Board Index is likely to continue.

As circled at C, the Stochastic managed to break above the 30% level on Friday. This is a signal of a technical rebound. If the Stochastic should remain above the 30% level, the FBM2nd Board Index would have a chance to consolidate which would put a pause on its downtrend.

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