As shown on the chart above, the FBM2nd Board Index had an daily low reaching 4349.38 points, but it managed to rebound slightly and closing the day 25.12 points lower at 4422.87 points. As indicated by A, the Bollinger Bands Width is still contracting, suggesting the FBM2nd Board Index is still consolidating in its sideways movement.

However, since the Bollinger Bands Width is now relatively narrow, it implies that the consolidation of the FBM2nd Board Index is likely to end soon. If the Bollinger Bands Width should expands with the FBM2nd Board Index above the Bollinger Middle Band, it would be a bullish signal for the FBM2nd Board Index. However, if the Bollinger Bands Width should expands with the FBM2nd Board Index below the Bollinger Middle Band, it would be a bearish biased signal for the FBM2nd Board Index. Support for the FBM2nd Board Index is still at 4018.69 WinChart Automatic Fibonacci Retracement.

As circled at B, the Stochastic breaks below the 70% level, suggesting a beginning of a technical correction for the FBM2nd Board Index. In other words, the short term movement for the FBM2nd Board Index is likely to stay weak unless the Stochastic should return to above 70% level.

As indicated by C, the MACD histogram is still falling while the rounding top remains in sight. Therefore, the falling of the MACD histogram suggests that the FBM2nd Board Index movement is still weakening. Again, the weakening movement of the FBM2nd Board Index is expected to continue, until the MACD histogram should form a rounding bottom.

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