As indicated by A, the Bollinger Bands contracted 3%, which suggesting that the FBMACE is likely to consolidate from now on. The consolidation of the FBMACE is expected to continue if the Bollinger Bands should contract further. Resistance for the FBMACE is at 4296 WinChart Automatic Fibonacci Retracement while the support remains at 4180 WinChart Automatic Fibonacci Retracement.

As shown on the chart, the Bollinger Middle Band is still serving as the dynamic resistance for the FBMACE, and therefore, the rebound on Friday is only a technical rebound, not a reversal signal yet.

As circled at B, the WinChart RSI tested the 50% level again, suggesting that the FBMACE is now consolidating. If the WinChart RSI should break above 70% level, the mid term movement of the FBMACE is expected to regain some strength.

As circled at C, the Stochastic is still rising after breaking above 30% level, suggesting that the technical rebound is still intact. If the Stochastic should break above 70% level, it would be a short term bullish signal for the FBMACE.

In conclusion, the FBMACE rebounded after falling for a few days, but it is still resisted by the Bollinger Middle Band as well as the 14, 21, 31 EMA dynamic resistance. Therefore, the rebound is only technical, not yet a reversal signal.

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