As shown on the chart above, the FBM2nd Board Index continued its sideways movement, closing 3.49 points lower to 3961.87 points. Since the FBM2nd Board Index is still below the 4000 level, the resistance for the FBM2nd Board Index is still at 4000 mark. Meanwhile, as indicated by A, the Bollinger Middle Band is still serving as the dynamic resistance for the FBM2nd Board Index, and therefore, the immediate outlook for the FBM2nd Board Index is still bearish biased. On Thursday, the Bollinger Bands Width contracted 4%, if the Bollinger Bands Width should continue to contract, the consolidation of the FBM2nd Board Index is expected to continue.

As circled at B, the Stochastic is still staying below 30% level, and the short term bearish signal is still intact. Unless, the Stochastic could break above 30% level, the short term movement for the FBM2nd Board Index is expected to be weak.

As circled at C, the MACD histogram ticked up slightly higher, and therefore, it is likely to form a rounding bottom. The formation of the rounding bottom suggests a consolidation for the FBM2nd Board Index, and even a chance for the FBM2nd Board Index to regain some strength.

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