As shown on the chart above, the FBM2nd Board Index rebounded 18.10 points to close at 5315.06 points on Friday, and therefore, the 5226.31 WinChart Automatic Fibonacci Retracement is still the support level for the FBM2nd Board Index. As indicated by A, the FBM2nd Board Index is about to form a double bottom. If the double bottom should formed successfully, it would be a signal suggesting a reversal for the FBM2nd Board Index. However, the formation of the double bottom has to be confirmed with a significant increase of market volume. Nevertheless, the immediate resistance for the FBM2nd Board Index is seen at the 14, 21, 31 EMA, while the next resistance is at 5644 WinChart Automatic Fibonacci Retracement.

As circled at B, the WinChart RSI ended slightly higher on Friday, therefore, suggesting some sign of improvement for the mid term market sentiment. Generally, the WinChart RSI has to break and maintain above the 70% level in order to sustain the mid term bullish signal. Mean while, the Class-B bullish divergence signal of the WinChart RSI is yet to be confirmed.

As circled at C, the Stochastic %K line rebounded slightly on Friday, but still staying below the 30% level; therefore, the short term bearish signal remains intact. Nonetheless, if the Stochastic should break above the 30% level, it would be a signal suggesting a beginning of a technical rebound, thus an improvement of the short term movement. Nevertheless, the Stochastic has to break and maintain above the 70% level to sustain the short term bullish signal.

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