As shown on the chart above, the FBM2nd Board Index is still staying below the 14, 21, 31 EMA dynamic resistance, and therefore, the immediate outlook for the FBM2nd Board Index is still negative biased. However, as indicated by A, the FBM2nd Board Index is still testing the 5226.31 WinChart Automatic Fibonacci Retracement support level. If the FBM2nd Board Index should be supported by the 5226.31 level, it would consolidate, and even forming a double bottom.

As circled at B, the WinChart RSI remains in the 50% level which is the mid term neutral region. Therefore, this suggests that the market sentiment for the mid term is still at neutral, and the direction for the FBM2nd Board Index is still unclear. Generally, the WinChart RSI either has to break above the 70% or break below the 30% level to show a clearer market direction. (Above 70% level is mid term bullish region, and below 30% level is mid term bearish region)

As circled at C, the Stochastic is still falling and therefore, suggesting the short term movement for the FBM2nd Board Index is still weak. As long as the Stochastic is still below the 30% level, the market movement for the short term is still bearish biased.

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