As indicated by A, the FBM2nd Board Index had a daily low reaching 3877.56 points where it found a support at the 3872 WinChart Automatic Fibonacci Retracement line and rebounded before closing at 3907.90 points, down 30.72 points. Therefore, the 3872 WinChart Automatic Fibonacci Retracement is still the support for the FBM2nd Board Index.

Meanwhile, the Bollinger Bands Width is still contracting suggesting the FBM2nd Board Index is still consolidating, with the Bollinger Middle Band remains as the dynamic resistance. Therefore, the market direction for the FBM2nd Board Index is still unclear.

As circled at B, the Stochastic started falling, breaking slightly below the 30% level. If the Stochastic should continue falling, it would have entered the short term bearish region, and the market movement for the short term is likely to be bearish biased.

As circled at C, the MACD histogram has not shown any signs of a rounding bottom. This is due to the prolonged sideways movement of the FBM2nd Board Index, and therefore, during a sideways market, the Bollinger Bands Width signal is usually more reliable than any other secondary indicators.

In short, if the Bollinger Bands Width should expands with the FBM2nd Board Index below the Bollinger Middle Band, it would be a bearish biased signal for the FBM2nd Board Index. If the Bollinger Bands Width should expands with the FBM2nd Board Index above the Bollinger Middle Band, there is a chance for the FBM2nd Board Index to regains some strength.

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