As indicated by A, the FBM2nd Board Index was precisely resisted by the Bollinger Middle Band on Tuesday, closing 43.38 points lower to 3939.52 points. Although the Bollinger Bands Width has not expanded, the FBM2nd Board Index is still below the Bollinger Middle Band, and therefore, the immediate outlook for the FBM2nd Board Index is bearish biased. If the Bollinger Bands Width should expands with the FBM2nd Board Index remain below the Bollinger Middle Band, there are more downside risk for the FBM2nd Board Index. Nevertheless, support for the FBM2nd Board Index is still at 3872.24 WinChart Automatic Fibonacci Retracement.

As circled at B, the Stochastic fell below 30% level, entering the short term bearish region. If the Stochastic should continue to stay below 30% level, the market movement for the short term is expected to be bearish biased.

As circled at C, the MACD histogram has not formed a rounding bottom, thus suggesting that the FBM2nd Board Index is still losing strength. Nevertheless, the MACD line remains below zero level, suggesting the mid to longer term movement of the FBM2nd Board Index is still weak.

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