As indicated by A, the FBM2nd Board Index ended 55.06 points lower on Thursday, closing slightly below the Bollinger Middle Band while testing the 4000 support level. If the FBM2nd Board Index should rebound from the 4000 level, it is likely to consolidate. However, if the FBM2nd Board Index should break below 4000 level, the next support would be at 3872.24 WinChart Automatic Fibonacci Retracement.

As circled at B, the Stochastic is still falling after breaking below 70% level, this shows that the market movement for the short term is turning weaker, which is a technical correction. If the Stochastic should fall below 30% level, it would be a short term bearish signal for the FBM2nd Board Index.

As indicated by C, the MACD histogram is still falling, while showing a rounding top. The rounding top of the MACD suggesting the FBM2nd Board Index is losing strength, and the weakening movement of the FBM2nd Board Index is likely to continue until the MACD should form another rounding bottom.

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