As indicated by A, the FBMACE was resisted by the 14, 21, 31 EMA again on Friday, closing 39.82 points or 1% lower. This suggests that the 14, 21, 31 EMA is still serving as the dynamic resistance for the FBMACE.

Meanwhile, the Bollinger Bands Width contracted another 7%, suggesting that the FBMACE is still consolidating. The consolidation is expected to continue until the Bollinger Bands Width could re-expands. Support for the FBMACE is still at 4031 WinChart Automatic Fibonacci Retracement while the resistance remains at 4398 WinChart Automatic Fibonacci Retracement.

As circled at B, the Stochastic failed to stay above 50%, this shows that the short term movement of the FBMACE is about to turn weak. If the Stochastic should break below 30% level again, it would be a signal suggesting that the short term movement of the FBMACE is bearish biased.

As circled at C, the MACD histogram has not formed a Rounding top, but the MACD line remains below zero level, suggesting that the mid to long term movement of the FBMACE is relatively weak. But, the Bollinger Bands Width has not expanded, thus it has not confirmed that the FBMACE is resuming its downtrend.

Despite several attempts to break above the 14, 21, 31 EMA, the dynamic resistance remains intact. This shows that the FBMACE immediate outlook is still weak, and it's likely to form a downtrend, for the characteristic of a downtrend is the FBMACE remained resisted by the falling dynamic resistance after its technical rebound. In other words, breaking above the dynamic resistance is imperative if the FBMACE should break away from its downtrend.

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