As indicated by A, the FBMACE broke above the 4601 WinChart Automatic Fibonacci Retracement resistance line successfully on Monday, gaining 142.23 points or 2.3%. Therefore, the 4601 WinChart Automatic Fibonacci Retracement is now the support while the next resistance is seen at 4790 WinChart Automatic Fibonacci Retracement as well as the 14, 21, 31 EMA dynamic support.

Meanwhile, the Bollinger Bands begins to expand, with the FBMACE above the Bollinger Middle Band. This suggests that the immediate outlook for the FBMACE is still on the positive side.

As circled at B, the WinChart RSI remains above 70% level, in the mid term bullish territory. This suggests that the mid term market strength for the FBMACE is bullish, and technically, with WinChart RSI staying above 70% level, the market sentiment for the mid term is expected to be positive.

As circled at C, the Stochastic maintained its position above 70% level, which is the short term bullish territory. Therefore, the Stochastic is still showing a bullish signal for the short term movement of the FBMACE.

In conclusion, after breaking above the 4601 WinChart Automatic Fibonacci Retracement, the FBMACE is set to test the next resistance level of 4790 WinChart Automatic Fibonacci Retracement. In short, with the support of the 14, 21, 31 EMA, the uptrend of the FBMACE is still intact.

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