As indicated by A, the FBM2nd Board Index had another new low on Friday at 4994.64 points, but there is a sign of forming a support at this level, and therefore, the 4994.64 or rounded up to 5000 level will be the immediate support for the FBM2nd Board Index. Meanwhile, the Bollinger Bands Width opened 18%, which is notably smaller if compared to the previous expansion rate, therefore, the Bollinger Bands Width might start to contract in the near future. If the Bollinger Bands Width should contract, it would be a signal suggesting a consolidation for the FBM2nd Board Index. Nevertheless, support for the FBM2nd Board Index is at 5000 points while the immediate dynamic resistance is still at the Bollinger Middle Band, and as long as the FBM2nd Board Index is still resisted by the dynamic resistance, the immediate outlook for the FBM2nd Board Index is still bearish biased.

As circled at B, the WinChart RSI remains below the 30% level, which is the mid term bearish region. This suggests that the market sentiment for the mid term is still bearish biased.

While the FBM2nd Board Index might have a chance to consolidate in the near future, it is a good idea to monitor the Stochastic as well, for if the Stochastic should break above the 30% level, it would be a signal suggesting a beginning of a technical rebound.

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