As shown on the chart, the FBMACE remains resisted by the 14, 21, 31 EMA, and on Monday, it ended 50.17 points or 1.2% lower to close at 4023.91 points (As indicated by A). Supports for the FBMACE is still at 3950 and 3810 WinChart Automatic Fibonacci Retracement.

The Bollinger Bands Width expanded 4% on Monday, with the FBMACE below the Bollinger Middle Band, and therefore, the immediate outlook is now bearish biased. If the Bollinger Bands should continue to expand while the FBMACE is below the Bollinger Middle Band, more downside risk for the FBMACE is expected.

As circled at B, the WinChart RSI retreated, failing to stay above the 50% level. This suggests that the mid term strength for the FBMACE is still on the negative side. If the WinChart RSI should break below 30% level, it would be a mid term bearish signal for the FBMACE.

As circled at C, the Stochastic continues falling, breaking marginally below 30% level, entering the short term bearish region. This suggests that the short term movement of the FBMACE is bearish biased, and the bearish biased short term movement is expected to continue, until the Stochastic should break above 30% level.

After being resisted by the 14, 21, 31 EMA, the FBMACE ended lower on Monday, while the outlook remains bearish biased. With the Bollinger Bands Width expansing, and the FBMACE is below the Bollinger Middle Band, the bearish movement is expected to continue until a valid break out above the Bollinger Middle Band and the 14, 21, 31 EMA.

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