As indicated by A, the FBMACE is still resisted by the 14, 21, 31 EMA, closing 10.31 points or 0.3% lower to 4059.53 points. This shows that the 14, 21, 31 EMA is still the dynamic resistance for the FBMACE, and the immediate outlook for the FBMACE is still weak.

Meanwhile, the Bollinger Bands Width contracted 14%, suggesting that the FBMACE is still consolidating, while preparing for a new movement. If the Bollinger Bands Width should continue to contract, the FBMACE is likely to move sideways, until the re-expansion of the Bollinger Bands Width. Supports for the FBMACE are at 3950 and 3810 WinChart Automatic Fibonacci Retracement while the resistance remains at the 14, 21, 31 EMA.

As circled at B, the WinChart RSI rose gradually, but still, it is staying below 50% level. This suggests that the mid term movement of the FBMACE has not shown any strength, thus, the FBMACE is still in its consolidation.

As circled at C, the Stochastic is staying between 30% to 50% level, which is a signal suggesting a bearish biased consolidation for the FBMACE. If the Stochastic should break below 30% level, it would be a signal suggesting that the short term movement of the FBMACE is turning weak.

Due to the contraction of the Bollinger Bands Width, and the lack of fresh leads, the FBMACE continues its consolidation. Despite its consolidation, the immediate outlook for the FBMACE is still on the weaker side, this is because the FBMACE is still resisted by the 14, 21, 31 EMA.

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