As indicated by A, the FBMACE did not had a technical correction, but rose another 47.46 points or 1.1% instead. Therefore, the 4260 WinChart Automatic Fibonacci Retracement is now serving as the support level for the FBMACE while the resistance is at 4398 WinChart Automatic Fibonacci Retracement.

As shown on the chart above, the Bollinger Bands expanded 18%, with the FBMACE above the Bollinger Middle Band . This shows that the FBMACE rally is still intact, and the Bollinger Middle Band is still serving as the dynamic support for the rally.

As circled at B, the WinChart RSI is still above 70% level, in the mid term bullish territory. This suggests that the mid term movement of the FBMACE is still improving,until the WinChart RSI should break below 70% level.

As circled at C, the MACD histogram is still rising, while no Rounding Top is sighted yet. This shows that the short term movement of the FBMACE is still gaining strength. If the MACD histogram should form a Rounding top, it would be a signal suggesting a beginning of a technical correction or a consolidation.

Technically speaking, the rally of the FBMACE remains intact, but the short term movement of the FMBACE is still over-heated. Nonetheless, provided that the Bollinger Bands is still expanding with the FBMACE still above the Bollinger Middle Band, or the 14, 21, 31 EMA, the bullish biased movement of the FBMACE is expected to continue.

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