On Tuesday, the FBMACE had its intra-day low touching 4316.99 points, but it managed to rebound just before the closing, and closed with a 11.99 points or 0.3% gains. However, as indicated by A, the FBMACE is still precisely resisted by the 14, 21, 31 EMA, which is also the dynamic resistance. This suggests that the FBMACE has not totally broken away from its bearish biased movement.

Meanwhile, the Bollinger Bands is still contracting, suggesting that the FBMACE is still in consolidation. Resistance for the FBMACE remains at 4390 WinChart Automatic Fibonacci Retracement while the support is at 4296 WinChart Automatic Fibonacci Retracement.

As indicated by B, the MACD histogram is still rising gradually, suggesting that the short term movement of the FBMACE is still improving. Technically, the improvement of the short term movement is expected to carry on until the MACD histogram should form a Rounding Top.

As circled at C, the Stochastic is still staying above 70% level, which is the short term bullish territory. This suggests that the short term bullish signal for the FBMACE is still intact, until the Stochastic should break below 70% level.

Again, despite improving signals from the Secondary Indicators, the FBMACE is still resisted by the 14, 21, 31 EMA. Together with the contraction of the Bollinger Bands, the FBMACE is expected to move sideways.

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