As indicated by A, the FBM2nd Board Index retested the 4000 level again on Wednesday, closing at its daily high of 4013.38 points, up 25.98 points. Since the Bollinger Middle Band is also very closed to the 4000 level, breaking above the 4000 level is likely to break above the Bollinger Middle Band as well, which would bring the immediate outlook back to positive biased.

Nevertheless, we still have to wait until the Bollinger Bands Width expands to confirm such signal. If the Bollinger Bands Width should expand with the FBM2nd Board Index above the Bollinger Middle Band, it would be a bullish signal for the FBM2nd Board Index. Support for the FBM2nd Board Index is still at 3872.24 WinChart Automatic Fibonacci Retracement.

As circled at B, the Stochastic rebounded as the FBM2nd Board Index ended higher. If the Stochastic should break above 70% level, it would be another short term bullish signal for the FBM2nd Board Index. As long as the Stochastic could maintain its position above the 70% level, the short term movement for the FBM2nd Board Index is likely to be bullish biased.

As indicated by the C curve, although the MACD histogram is still falling, its rate of declining is slowly down. Therefore, the MACD histogram might be forming a rounding bottom. However, no rounding bottom is sighted yet. If the MACD histogram should form a rounding bottom, it would be a signal suggesting an end to the consolidation, and the FBM2nd Board Index is likely to regain some strength. 

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