As indicated by A, the FBM2nd Board Index tested the 4000 point level, but failed to break above the 4000 level, ended the daily almost flat, up only 2.64 points. Therefore, the 4000 level is still the immediate resistance for the FBM2nd Board Index. Meanwhile, the Bollinger Bands Width also contracted 9%, suggesting that the FBM2nd Board Index is still consolidating, as the direction of the FBM2nd Board Index is still unclear. Nevertheless, support for the FBM2nd Board Index is still seen at 3872.24 WinChart Automatic Fibonacci Retracement.

As circled at B, the Stochastic remained around 50% level, and therefore, suggesting that the FBM2nd Board Index is not showing any direction at the moment. Generally, in order to function effectively, the Stochastic has to stay above 70% level (bullish region) or below 30% level (bearish region).

As circled at C, no signal of rounding bottom at the MACD histogram yet, and therefore, the consolidation of the FBM2nd Board Index is likely to continue. Nevertheless, with the MACD line still below the zero level, the mid to longer term market movement of the FBM2nd Board Index is still relatively weak.

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