As indicated by A, the FBM2nd Board Index ended 9.20 points higher to 3906.82 points on Thursday, after rebounded from the 3872 level. This shows that the 3872 level is still the support for the FBM2nd Board Index.

Meanwhile, the Bollinger Bands Width did not expand but contracted 19% as the FBM2nd Board Index rebounded. If the Bollinger Bands Width should continue to contract, the FBM2nd Board Index is likely to consolidate further.

As circled at B, the Stochastic rebound in line with the FBM2nd Board Index, breaking marginally above the 30% level. If the Stochastic should continue rising, it would be a signal suggesting a beginning of a technical rebound for the FBM2nd Board Index.

As circled at C, the MACD histogram is still not showing any signals, but with the MACD still staying below the zero level, the market movement for the mid to longer term is still weak.

The contraction of the Bollinger Bands Width has avoided the FBM2nd Board Index from closing at a new low, thus a positive sign for the FBM2nd Board Index for the moment. Nevertheless, with the Bollinger Bands Width contracting, the FBM2nd Board Index is now preparing for a new move again, and the direction of the new movement shall be revealed once the Bollinger Bands Width re-expands.

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