As indicated by A, the FBMACE opened higher on Monday, but ended lower with an intra-day breaching below the 14-day EMA. Fortunately, the FBMACE managed to close at above the 14, 21, 31 EMA, losing 30.49 points or 0.7%. Resistance for the FBMACE remain at 4560 and 4790 WinChart Automatic Fibonacci Retracement while the support is still at 14, 21, 31 EMA dynamic support.

With the FBMACE still above the 14, 21, 31 EMA, this suggests that the FBMACE has not formed a downtrend yet. Meanwhile, the Bollinger Bands also contract 11%, suggesting that the FBMACE is still consolidating.

As circled at B, the Stochastic is still below 50% level, suggesting that the short term movement of the FBMACE is not picking up any strength. If the Stochastic should break below 30% level, it would be a short term bearish signal for the FBMACE.

As circled at C, the MACD histogram is still falling while breaking below the zero level by margin. This suggests that the FBMACE is still consolidating, but with some bearish biased. If the MACD histogram should continue falling, the FBMACE is expected to remain weak, until the MACD histogram should form a Rounding Bottom.

In conclusion, despite weakening signals from the Secondary indicators, the Primary indicators like Bollinger Bands and the EMA are not showing any signs of weakness for the FBMACE yet. Therefore, we should wait for more development of the FBMACE until we see reliable signals of the new movement.

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