As indicated by A, the FBM2nd Board Index retreated 11.33 points after resisted by the falling dynamic resistance. As long as the FBM2nd Board Index is still resisted by the falling dynamic resistance, the outlook shall remains bearish biased, with a support at 4820.88 WinChart Automatic Fibonacci Retracement.

As circled at B, the Stochastic breaks above the 70% level, and now showing a short term bullish signal, suggesting a bullish biased short term movement for the FBM2nd Board Index.

As circled at C, the MACD is still rising, while no rounding top is visible yet. Therefore, the rising of the MACD histogram also suggesting the short term movement for the FBM2nd Board Index is improving.

However, both Stochastic and MACD are secondary indicators. Since the FBM2nd Board Index is still resisted by the moving average, which is a primary indicator, the significance of the secondary indicator is reduced, as the priority of analysis should be the primary indicator.

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