As indicated by A, the FBMACE rebounded from the Bollinger Middle Band and the 4329 WinChart Automatic Fibonacci Retracement on Tuesday, closing 101.89 points or 2.4% higher. Therefore, this shows that the Bollinger Middle Band is still the dynamic support for the FBMACE while the 4329 WinChart Automatic Fibonacci Retracement is still the support for the FBMACE. Resistance for the FBMACE is still at 4488 WinChart Automatic Fibonacci Retracement.

Despite the FBMACE ended higher on Tuesday, the Bollinger Bands has not expanded. Therefore, this has not confirmed that the FBMACE is resuming its uptrend. Nonetheless, with the FBMACE above the Bollinger Middle Band, the immediate outlook for the FBMACE is still bullish biased, and provided that the Bollinger Bands is expanding with the FBMACE above the Bollinger Middle Band, there is a good chance that the FBMACE could break above the 4488 WinChart Automatic Fibonacci Retracement.

As circled at B, the Stochastic broke above 70% level, re-entering the short term bullish territory. If the Stochastic should maintain above 70% level, the market movement for the short term is expected to be bullish biased.

Despite the improvement signal from the Stochastic, the MACD histogram has not shown a Rounding Bottom yet. But nevertheless, as circled at C, the MACD histogram is still falling but the rate of falling is slowing down. If the MACD histogram should form a Rounding Bottom, it would be a signal suggesting that the FBMACE is resuming its uptrend.

After having a correction for 1 week, the FBMACE rebounded from the Bollinger Middle Band, which is a typical signal of resuming an uptrend. Provided that the FBMACE could stay above the Bollinger Middle Band, with the Bollinger Bands re-expanding, more upside room for the FBMACE is expected.

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