KUALA LUMPUR (Feb 22): RHB Retail Research said the positive view on the FBM Small Cap Index (FBMSC) remains intact, as the bullish bias continues to exert itself.

In a technical analyser today, the research house said the FBMSC inched up 115.72 points to 16,888.44 points in the last session.

It said this has extended the upside movement and led the index to breach above the 21-day SMA line.

"Technically speaking, the bulls are continuing to dominate market sentiment. Based on the immediate momentum, it is likely that the FBMSC is to test the 16,969-point resistance in the coming sessions.

"We also note that the 14-day RSI indicator has climbed by 3.3 points and returned above the 50-point neutral level at 51.49 points.

"This shows an encouraging improvement in market strength, thereby enhancing our positive view," it said.