On Thursday, the FBM2nd Board Index tested the 14, 21, 31 EMA dynamic resistance again, closing 3.27 lower to 5325.42 points. Therefore, the downtrend for the FBM2nd Board Index is still intact, and the outlook for the FBM2nd Board Index remains bearish biased, until breaking above the dynamic resistance successfully. Support for the FBM2nd Board Index is still seen at 5226.31 WinChart Automatic Fibonacci Retracement while the resistance is still at 5644 WinChart Automatic Fibonacci Retracement.

As circled at B, the Stochastic %D line break above the 30% level, suggesting a beginning of a technical rebound signal. If the Stochastic should break and maintain above the 70% level, it would be a short term bullish signal for the FBM2nd Board Index.

As circled at C, the MACD line is slowly turning up, suggesting that the FBM2nd Board Index is slightly improving. However, the MACD has to break above the zero level in order to suggest a positive movement for the FBM2nd Board Index. If the MACD failed to break above the zero level and started falling again, the movement for the FBM2nd Board Index shall remains bearish biased.

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