As indicated by A, the Bollinger Bands contracted 9%, and as a result, the FBMACE rebounded 46.59points or 1.1%. Support for the FBMACE is at 4231 WinChart Automatic Fibonacci Retracement while the resistance is seen at 4329 WinChart Automatic Fibonacci Retracement followed by the Bollinger Middle Band.

Despite the rebound of the FBMACE, it is still below the Bollinger Middle Band, which suggests that the immediate outlook is still on the negative side. In other words, the FBMACE has to break above the Bollinger Middle Band in order to break away from the bearish biased movement.

As circled at B, the Stochastic rebounded after touching 0%, but still, it is staying below 30% level, which is the short term bearish region. This suggests that the short term movement of the FBMACE is still bearish biased.

As circled at C, the MACD histogram is still falling, despite the rebound of the FBMACE. This suggests that the FBMACE is still on the weakening trend, and thhe weakening movement shall carry on, until the MACD histogram should form a Rounding Bottom.

As the over night rebound of the US Markets, coupled with the contraction of the Bollinger Bands, the FBMACE rebounded. If the Bollinger Bands should continue to contract, the FBMACE is likely to consolidate again, and at the same time, preparing for a new movement, until the re=expansion of the Bollinger Bands.

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