As shown on the chart above, the FBM2nd Board Index found its temporary support at 4375.68 WinChart Automatic Fibonacci Retracement, closing 18.94 points higher to 4468.20 points. Resistance for the FBM2nd Board Index is at 4761.47 WinChart Automatic Fibonacci Retracement. As indicated by A, the 14, 21, 31 EMA is still the dynamic resistance for the FBM2nd Board Index, suggesting that the FBM2nd Board Index is currently consolidating while the downtrend is still intact.

As circled at B, the Stochastic has not broken above the 30% level, and therefore, the short term bearish signal remains intact. If the Stochastic should break above 30% level, it would be a signal suggesting a beginning of a short term technical rebound.

As circled at C, the MACD histogram is still rising slowing, and therefore, forming a rounding bottom. This suggests a consolidation for the FBM2nd Board Index, thus an improvement is its short term movement.

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