As indicated by A, the Bollinger Bands expanded another 22%, with the FBMACE above the Bollinger Middle Band, and therefore, the FBMACE gained 21.72 points or 0.5%. Resistance for the FBMACE remains at 4175 WinChart Automatic Fibonacci Retracement while the supports are at 4106 WinChart Automatic Fibonacci Retracement as well as the Bollinger Middle Band dynamic support.

Meanwhile, the 14, 21, 31 EMA is still supporting the FBMACE, and therefore, serving as another dynamic support for the FBMACE uptrend. Provided that this dynamic support remains in place, the uptrend is expected to continue.

As circled at B, WinChart RSI is rising while testing the 70% level. If the WinChart RSI could break above 70% level, it would be a signal suggesting a mid term bullish strength for the FBMACE.

As circled at C, the Stochastic is still at 100% level, this shows that the short term movement of the FBMACE is in deed bullish, but it has gone over-heated. Therefore, there is a chance of a technical correction. Nonetheless, with the Stochastic remains above 70% level, the market movement for the short term is still bullish biased.

Despite the earlier losses on Monday, the FBMACE managed to rebound at the Bollinger Middle Band as well as the 14, 21, 31 EMA, and ended closing higher. Technically speaking, the FBMACE has the conditions of a valid uptrend, and provided that the Bollinger Bands shall remains expanding, with the FBMACE above the Bollinger Middle Band, more upside room is expected for the FBMACE.

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