As indicated by A, the FBM2nd Board Index retested the 14, 21, 31 EMA dynamic resistance, closing 36.48 points higher to 4400.20 points. Currently, the FBM2nd Board Index is at a critical position. If the FBM2nd Board Index should break above the dynamic resistance, it would have a better chance to break away the downtrend which lasted for 1 year. Nevertheless, support for the FBM2nd Board Index is still at 4018.69 WinChart Automatic Fibonacci Retracement.

As circled at B, the Stochastic is still above 70% level, and therefore, the short term bullish signal is still intact. Readers and combine the 14, 21, 31 EMA readings together with the Stochastic to monitor the FBM2nd Board Index condition. If the Stochastic should break below 70% level, it would be a signal suggesting an end to the short term bullish movement or the beginning of a technical correction.

As circled at C, the MACD histogram is still rising steadily, suggesting the FBM2nd Board Index short term is still gaining strength. However, with the MACD line still below the zero level, it suggests that the longer term movement for the FBM2nd Board Index is still on the weaker side.

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