On Tuesday, the FBMACE ended lower, breaking below the 14-day EMA, closing 48.48 points or 1.1% lower. As indicated by A, the FBMACE had its intra-day touching the 4417 WinChart Automatic Fibonacci Retracement, this suggests that the current support for the FBMACE are at 4417 WinChart Automatic Fibonacci Retracement as well as the 21, 31 EMA; while the resistance are at 4560 and 4790 WinChart Automatic Fibonacci Retracement.

Meanwhile, the Bollinger Bands contracted another 16%, suggesting that the FBMACE is still consolidating, but has not formed a downtrend yet. Nevertheless, with the FBMACE below the Bollinger Middle Band, the immediate outlook for the FBMACE is bearish biased.

As circled at B, the Stochastic fell below 30% level on Tuesday, entering the short term bearish region. If the Stochastic should remain below 30% level, more downside movement is expected for the short term movement.

As circled at C, the MACD histogram continue falling below the zero level. This suggests that other than having its technical correction or consolidation, the FBMACE is indeed weakening, and the weakening of the FBMACE is likely to carry on until the MACD histogram should form a Rounding Bottom.

In conclusion, the FBMACE continue showing some sign of weakness, but the Bollinger Bands has not expanded, thus have not signaled a downtrend for the FBMACE. If the Bollinger Bands should re-expands with the FBMACE below the Bollinger Middle Band, more downside movement is expected for the FBMACE. In other words, the FBMACE has to break above the Bollinger Middle Band or rebound from the 14, 21, 31 EMA to avoid forming a downtrend.

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