As indicated by A, the FBMACE rebounded from the 14, 21, 31 EMA, gaining 40.88 points or 1%, and breaking above the 4280 WinChart Automatic Fibonacci Retracement. Therefore, this suggests that the 14, 21, 31 EMA is still serving as the dynamic support for the FBMACE. The next resistance for the FBMACE is seen at 4374 WinChart Automatic Fibonacci Retracement while the immediate support is at 4280 followed by 4130 WinChart Automatic Fibonacci Retracement.

Meanwhile, the Bollinger Bands expanded 3%, with the FBMACE above the Bollinger Middle Band. Therefore, this implies some bullish biased movement, but the expansion rate was not significant, thus not confirming the bullish signal yet.

As circled at B, the Stochastic breaks above 70%, re-entering the short term bullish territory. If the Stochastic could remain above 70%, the short term movement of the FBMACE is expected to be bullish biased.

As circled at C, the MACD histogram is still falling, but it has slowed down significantly. Therefore, if the MACD histogram should begin rising again, it would suggest an end to the consolidation or the correction, and the FBMACE could resume its uptrend.

In conclusion, with the FBMACE rebounding precisely from the 14, 21, 31 EMA as well as the Bollinger Middle Band, the immediate technical outlook for the FBMACE is likely to improve, but this is yet to be confirm for the Bollinger Bands signal is not significant.

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