As indicated by A, the FBM2nd Board Index is testing the 14, 21, 31 EMA, while consolidate in the congestion of the 14, 21, 31 EMA. Therefore, this suggests that the direction for the FBM2nd Board Index is unclear. Nevertheless, support for the FBM2nd Board Index is still at 5226 WinChart Automatic Fibonacci Retracement line while the resistance is still seen at 5644 WinChart Automatic Fibonacci Retracement line.

As circled at B, the WinChart RSI retreated as the FBM2nd Board Index closing lower. However, with the WinChart RSI staying above the 50% level, there is still some bullish biased signal for the FBM2nd Board Index. Generally, the WinChart RSI has to break and remain above the 70% level, in order to sustain the mid term bullish signal.

As circled at C, the Stochastic was also lower on Wednesday, but still staying above the 70% level, and therefore, the short term bullish signal remains intact. Provided that the Stochastic is still above the 70% level, the market movement for the short term is still bullish biased.

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