After the pull-back effect technical rebound, the FBM2nd Board Index started to consolidate on Wednesday, closing 19.03 points lower t 4990.19 points. Meanwhile, the Bollinger Bands Width stopped expanding, suggesting a signal of contraction, which means a consolidation for the FBM2nd Board Index. Nevertheless, the immediate resistance for the FBM2nd Board Index is at the Bollinger Middle Band dynamic resistance, while the 4892 WinChart Automatic Fibonacci Retracement is the support level.

As circled at B, the Stochastic has not broken above the 30% level successfully, but it was closed. If the Stochastic should break above the 30% level, it would be a signal of a technical rebound, and the FBM2nd Board Index would continue its consolidation.

As circled at C, the MACD histogram ticked up on Wednesday, forming a rounding bottom, which suggests an improving short term movement for the FBM2nd Board Index. If the MACD histogram should continue rising, the KLCI is likely to continue its consolidation.

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