As indicated by A, the FBM2nd Board Index remained resisted by the Bollinger Middle Band dynamic resistance, closing the day 13.47 points lower to 3938.62 points. Despite the Bollinger Bands Width is still no expanding, with the FBM2nd Board Index below the Bollinger Middle Band, the immediate outlook for the FBM2nd Board Index is still bearish biased.

Other than the Bollinger Middle Band dynamic resistance, 4000 level is still the next psychological resistance line, while the support remains at 3872.24 WinChart Automatic Fibonacci Retracement.

As circled at B, the Stochastic is still floating around 50% level, suggesting the market direction for the short term is still unclear as the FBM2nd Board Index consolidates. If the Stochastic should fall below the 30% level, it would be another short term bearish signal for the FBM2nd Board Index. On the other hand, if the Stochastic should break above 70% level, it would be a short term bullish signal.

As circled at C, the MACD histogram ticked up slightly on Friday, but too insignificant to be considered for any signal. Therefore, the priority of the analysis should be based on the primary indicator like Bollinger Bands. If the Bollinger Bands Width should re-expand with the FBM2nd Board Index below the Bollinger Middle Band, it would be a bearish movement signal. If the Bollinger Bands Width should expands with the FBM2nd Board Index above the Bollinger Middle Band, it would be a bullish movement signal.

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