As shown on the chart above, the FBM2nd Board Index marked another new low at 5226.31 points on Monday, but it managed to close at 5278.55 points, and therefore, the 5255.25 level is still the support for the FBM2nd Board Index. Nevertheless, as indicated by A, the 14, 21, 31 EMA is still falling and serving as the dynamic resistance for the FBM2nd Board Index. Therefore, the outlook for the FBM2nd Board Index remains bearish biased.

As circled at B, the WinChart RSI remains below the 30% level, which is still showing a mid term bearish signal. This suggests that the market sentiment for the mid term is still weak.

As circled at C, the Stochastic %K line begins to fall. At the moment, the Stochastic %K has not broken below the 30% level. If the %K line should break below the 30% level, it would mark an first short term bearish signal. If the Stochastic %D line should also break below the 30% level, it would confirm the %K line signal, and the market movement for the short term would be bearish biased.

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