As indicated by A, the FBM2nd Board Index ended 18.29 points higher to close at 3925.11 points on Friday, after rebounded from the 3872 support level. However, it was precisely resisted by the Bollinger Middle Band, which is still the dynamic resistance for the FBM2nd Board Index.

Meanwhile, the Bollinger Bands Width is still contracting, suggesting that the FBM2nd Board Index consolidation is still intact. However, since the Bollinger Bands Width is now very narrow, it implies that the consolidation is likely to end in the near term. Support for the FBM2nd Board Index remains at 3872 level while the next resistance is seen at 4000 points.

As circled at B, the Stochastic continue rising, breaking above the 50% level, suggesting that the technical rebound of the FBM2nd Board Index continues. If the Stochastic should break above 70% level, it would be a short term bullish signal for the FBM2nd Board Index.

As circled at C, the MACD line is still not showing any signal at the moment. But readers can monitor and see if the MACD line should break above the zero level. If the MACD line should break above zero, it would suggests an improvement of the mid to long term movement.

In short, the Bollinger Bands Width is still the best indicator to monitor for now for if the Bollinger Bands Width should re-expands with the FBM2nd Board Index above the Bollinger Middle Band, it would be a bullish biased signal for the FBM2nd Board Index.

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