As shown on the chart above, the FBMACE had its intra-day low breaking below the 4180 WinChart Automatic Fibonacci Retracement, but at the end of the trading day, the FBMACE managed to rebound slightly, to close at 4179.55 points, downed 39.90 points. Therefore, the support for the FBMACE is still at 4180 WinChart Automatic Fibonacci Retracement while the resistance is 4296 WinChart Automatic Fibonacci Retracement.

As indicated by A, the 14, 21, 31 EMA is still falling gradually, and still serving as the dynamic resistance for the FBMACE. Therefore, the immediate technical outlook for the FBMACE is still bearish biased.

As circled at B, the WinChart RSI failed to break above 30% level, suggesting that the mid term strength of the FBMACE is still bearish biased.

As circled at C, the Stochastic retreated after testing the 30% level, therefore, the Stochastic is still showing a short term bearish signal for the FBMACE.

In conclusion,the primary indicator (Moving Average) and Secondary Indicators (Stochastic and WinChart RSI) are showing bearish biased signal, thus the technical reading of the FBMACE is bearish biased. However, since the FBMACE is still supported by the 4180 WinChart Automatic Fibonacci Retracement, it has not resumed its downtrend yet.

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