As the Asian stock markets closing lower, the FBM2nd Board Index also ended lower on Thursday, losing a total of 52.40 points. As indicated by A, the FBM2nd Board Index failed to break above the 4000 level, and therefore, it is still below the Bollinger Middle Band dynamic resistance.

Meanwhile, the Bollinger Bands Width expanded 4% on Thursday. Although the expansion was not significant, the immediate outlook for the FBM2nd Board Index is still bearish biased as the FBM2nd Board Index is now below the Bollinger Middle Band. If the Bollinger Bands Width should expands with the FBM2nd Board Index below the Bollinger Middle Band, more downside risk for the FBM2nd Board Index is expected. Support for the FBM2nd Board Index is still at 3872.24 WinChart Automatic Fibonacci Retracement while the resistance is still at 4000 points as well as the Bollinger Middle Band dynamic resistance.

As circled at B, the Stochastic fall below 30% level, entering the short term bearish region. If the Stochastic should remain below 30% level, the short term movement for the FBM2nd Board Index is expected to be bearish biased.

As circled at C, the MACD histogram failed to form a rounding bottom and continue its decline. Therefore, this shows that the FBM2nd Board Index is still on its weakening movement. Meanwhile, the MACD line is still below the zero level, suggesting that the long term movement for the FBM2nd Board Index is still on the weaker side.

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