As indicated by A, the FBM2nd Board Index marked another new low on Thursday with its daily low of 4322.28 points, before closing at 4418.49 points. Therefore, there is no reliable support for the FBM2nd Board Index at the moment. However, the 14, 21, 31 EMA is still the dynamic resistance for the FBM2nd Board Index, thus the downtrend remains intact, and the outlook for the FBM2nd Board Index is still bearish biased.

As circled at B, the Stochastic is still below 30%, and the short term bearish signal is still intact, and the market movement for the short term is still bearish biased. Again, if the Stochastic should break above 30%, it would be a signal suggesting a beginning of a technical rebound.

As circled at C, the MACD histogram is still rising, thus the rounding bottom is still visible. The rising of the MACD histogram suggests a continuation of the consolidation, and even a chance for the FBM2nd Board Index to regain its strength until the MACD histogram should start falling and form a rounding bottom.

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