On Tuesday, the FBM2nd Board Index marked another new low with its daily low at 5153.15 points. As shown on the chart above, the FBM2nd Board Index tested the 5226 level, while precisely resisted at the 5226 level. Therefore, the 5226 level is the immediate resistance for the FBM2nd Board Index. Meanwhile, as indicated by A, the 14, 21, 31 EMA is still falling while serving as the dynamic resistance for the FBM2nd Board Index, therefore, the outlook for the FBM2nd Board Index is still bearish biased.

As circled at B, the Stochastic is still falling, with the Stochastic %D line barely holding above the 30% level. Nevertheless, with the Stochastic staying at the lower level, the short term market movement for the FBM2nd Board Index is expected to be bearish biased.

As circled at C, the MACD continue to fall, suggesting that the FBM2nd Board Index is still trending lower. Meanwhile, the MACD line is still below the zero level, suggesting the mid to long term movement for the FBM2nd Board Index is still weak.

Since the FBM2nd Board Index is making yet another new low, therefore, there is no reliable support level for the FBM2nd Board Index at the moment, and the priority of the analysis should be based on the primary indicator like the 14, 21, 31 EMA. In short, unless the FBM2nd Board Index should could break out from the falling 14, 21, 31 EMA, the outlook for the FBM2nd Board Index is still bearish biased.

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