As indicated by A, the FBMACE is resisted by the 14, 21, 31 EMA on Tuesday, and ended lower with an intra-day low reaching 4301.34 points. The FBMACE was supported by the 4302 WinChart Automatic Fibonacci Retracement, and the FBMACE rebounded slightly, before closing 36.99 points lower. This suggests that the 4302 WinChart Automatic Fibonacci Retracement is still the support for the FBMACE while the 14, 21, 31 EMA is the dynamic resistance.

Meanwhile, the Bollinger Bands contracted 10%, suggesting that the FBMACE is still in consolidation stage, despite the FBMACE ended lower on Tuesday. Nonetheless, with the FBMACE still below the Bollinger Middle Band, the immediate outlook for the FBMACE is still bearish biased.

As circled at B, the Stochastic is still staying below 30% level, which is the short term bearish region. This shows that the short term movement of the FBMACE is on the negative side, until the Stochastic could successfully break above the 30% level.

As circled at C, the MACD histogram is still falling while no Rounding Bottom is sighted yet. Therefore, this suggests that the FBMACE is still weakening. Technically, the MACD histogram has to form a Rounding Bottom in order to signal a rebound for the FBMACE.

In short, indicators are suggesting downside biased signals for the FBMACE, while the Bollinger Bands has not confirmed the downtrend formation. Nevertheless, as long as the FBMACE is still resisted by the falling 14, 21, 31 EMA, the outlook for the FBMACE shall remains bearish biased.

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