As indicated by A, the FBM2nd Board Index continued its sideways consolidation, as the Bollinger Bands Width continues to contract another 5%. This shows that the direction for the FBM2nd Board Index is still unclear. However, since the FBM2nd Board Index is still below the Bollinger Middle Band, the immediate outlook for the FBM2nd Board Index is still bearish biased. On Monday, the FBM2nd Board Index touched another new low, and therefore, there is still no reliable support for the FBM2nd Board Index while the 4000 point level is still the resistance for the FBM2nd Board Index, as well as the Bollinger Middle Band dynamic resistance.

As circled at B, the Stochastic is rising slowly as the FBM2nd Board Index closed at its daily high. If the Stochastic should break above 30% level, it would be a signal suggesting a beginning of a technical rebound, and the FBM2nd Board Index would break away from the short term bearish region.

As indicated by C, the MACD histogram is still rising suggesting the FBM2nd Board Index movement is improving if compared to the previous movement. As long as the MACD histogram is still rising, the FBM2nd Board Index would still have a chance to regain its strength.

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