On Thursday, the Bollinger Bands Width expanded another 5% with the FBM2nd Board Index staying below the Bollinger Middle Band, therefore, if the Bollinger Bands Width should continue expanding with the FBM2nd Board Index below the Bollinger Middle Band, the outlook for the FBM2nd Board Index is still bearish biased. Nevertheless, support for the FBM2nd Board Index is still seen at the 5153.15 WinChart Automatic Fibonacci Retracement.

As circled at B, the WinChart RSI is still below 30% level, which is the mid term bearish region. Therefore, this suggests that the market strength for the FBM2nd Board Index is still weak. Generally, the WinChart RSI has to break above the 30% level, then only the FBM2nd Board Index would have a better chance in breaking out from the bearish trend.

As circled at C, the MACD histogram is still rising, but with a slower rate, and therefore, there is a risk of the MACD histogram forming a rounding top. If the MACD histogram should form a rounding top, it would be a signal suggesting a weakening of the MACD bullish signal.

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