As shown on the chart above, the FBMACE rebounded on Tuesday, but still resisted by the falling 14, 21, 31 EMA dynamic resistance (As pointed by A). This shows that the FBMACE rebound is only technical, while the downtrend remains intact. Supports for the FBMACE are at 3950 and 3810 WinChart Automatic Fibonacci Retracement. While resistance is at 14, 21, 31 EMA.

Meanwhile, the Bollinger Bands Width expanded only 3%. If compared to Monday's expansion rate, Tuesday expansion was relatively slower, thus implying that the Bollinger Bands Width might be contracting. If the Bollinger Bands Width should contract, the FBMACE would consolidate. The Bollinger Middle Band is also a dynamic resistance for the FBMACE.

As circled at B, the Stochastic rebounded as the FBMACE technically rebound. However, the Stochastic failed to break above 30% level, and therefore, the short term bearish signal remains in place, until the Stochastic could break above 30% and 50% level.

As circled at C, the MACD Histogram has not formed a Rounding Top, and therefore, the FBMACE weakening movement is temporary at a pause. Nevertheless, the MACD line is below the zero level, suggesting that the mid to longer term movement of the FBMACE is still weak.

After Monday's sharp fall, the rebound of the FBMACE on Tuesday is rather normal, but however, the rebound is only technical, it is not a signal suggesting that the FBMACE is breaking away from the downtrend, unless the FBMACE should break above the 14, 21, 31 EMA successfully. In other words, if the FBMACE should resisted by the 14, 21, 31 again after this rebound, the downtrend is still intact and the outlook shall remains bearish biased.

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