As indicated by A, the FBMACE continued its consolidation below the Bollinger Middle Band, rising 8.45 points or 0.2%. Therefore, the Bollinger Middle Band is still the dynamic resistance for the FBMACE while the 4398 WinChart Automatic Fibonacci Retracement resistance remains intact; support for the FBMACE remains at 4031 WinChart Automatic Fibonacci Retracement.

As shown on the chart above, the Bollinger Bands Width expanded 4% with the FBMACE below the Bollinger Middle Band. Therefore, the immediate outlook for the FBMACE remains negative biased, despite the expansion was not significant.

As circled at B, the Stochastic rebounded slightly but still below 30% level, which suggests that the short term movement of the FBMACE is still bearish biased, and the weak movement is expected to continue until the Stochastic could successfully break above 30% level.

As circled at C, the MACD histogram remains falling; this shows that the FBMACE is indeed weakening, but it has not formed a downtrend yet. Nevertheless, the weakening movement of the FBMACE is likely to continue unless the MACD histogram should form a Rounding Bottom.

Despite the insignificant expansion of the Bollinger Bands Width, the immediate outlook for the FBMACE is still bearish biased. Therefore, the FBMACE has to break above the Bollinger Middle Band in order to avoid the risk of a downtrend formation.

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