As shown on the chart above, the FBM2nd Board Index break below its previous 4735.96 support, making another new low of 4539.47 points, closing at 4598.17 points, downed 217.13 points. As indicated by A, the 14 21, 31 EMA is still falling while continue serving as the dynamic resistance. Therefore, provided that the FBM2nd Board Index is still resisted by the falling dynamic resistance, the outlook for the FBM2nd Board Index shall remain bearish biased. Since the FBM2nd Board Index is at new low, there is no reliable support at this moment.

As circled at B, the Stochastic is still below 30% level, which is the short term bearish region. Therefore, this suggests that the short term movement for the FBM2nd Board Index is still bearish biased. If the Stochastic should break above 30% level, it would be a signal suggesting a beginning of a technical rebound.

As circled at C, the MACD histogram is still falling, suggesting that the FBM2nd Board Index is still weakening. The weaker movement of the FBM2nd Board Index is expected to continue until the MACD histogram should form a rounding bottom.

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