On Friday, the FBM2nd Board Index continued its consolidation, ended 21.65 points lower to close at 3940.22 points. Currently, the 4000 points level is still the resistance for the FBM2nd Board Index while, as indicated by A, the Bollinger Middle Band is still serving as the dynamic resistance. Even though the Bollinger Bands Width is contracting slowly, which suggests a consolidation for the FBM2nd Board Index, the immediate outlook for the FBM2nd Board Index remains bearish biased for the FBM2nd Board Index is still below the Bollinger Middle Band. Nevertheless, since the FBM2nd Board Index has touched another new low, there is no reliable support level for the FBM2nd Board Index at the moment.

As circled at B, the Stochastic is moving sideways below the 30% level, which shows that the short term market movement of the FBM2nd Board Index is still bearish biased. If the Stochastic should break above 30% level, it would be a signal suggesting a beginning of a technical rebound.

As circled at C, the MACD histogram is still rising slowly, while showing a rounding bottom signal. The rounding bottom suggests a consolidation for the FBM2nd Board Index, and as long as the MACD histogram is still rising, the consolidation is expected to continue, and the FBM2nd Board Index might even have a chance to regain its strength.

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