As indicated by A, the FBM2nd Board Index tested the 3872 support line again on Wednesday, closing 10.28 points lower to 3897.62 points. Therefore, the 3872 WinChart Automatic Fibonacci Retracement is still the support for the FBM2nd Board Index.

Meanwhile, the Bollinger Bands Width expanded 16% on Wednesday, with the FBM2nd Board Index below the Bollinger Middle Band. Therefore, the immediate outlook for the FBM2nd Board Index is now bearish biased. If the Bollinger Bands Width should continue to expands, the risk of the FBM2nd Board Index breaking below the 3872 support would be higher. If the FBM2nd Board Index should break below the 3872 level, it would be making a new low.

As circled at B, the Stochastic is still falling while situated below the 30% level, and therefore, entered the short term bearish region. Provided that the Stochastic is still below 30% level, the market movement for the short term is still bearish biased.

As circled at C, the MACD is still now showing any clear signal at the moment. However, since the MACD line is still below the zero level, it suggests that the market movement for the mid to longer term is still weak.

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