As indicated by A, the FBMACE broke below the 4130 WinChart Automatic Fibonacci Retracement support, losing 52.57 points to close at 4106.22 points. The FBMACE started a downtrend. Next support for the FBMACE is seen at 3990 WinChart Automatic Fibonacci Retracement while the resistance is at 4180 as well as the 14, 21, 31 EMA dynamic resistance.

Meanwhile, the Bollinger Bands expanded 39%, with the FBMACE below the Bollinger Middle Band, thus giving a bearish signal. If the Bollinger Bands should continue to expand while the FBMACE stays below the Bollinger Middle Band, more down side movement is expected for the FBMACE.

As circled at B, the WinChart RSI remains below 30%, suggesting that the mid term market strength of the FBMACE is still weak, and therefore, the FBMACE is likely to trend lower until the WinChart RSI should break above 30% successfully.

As circled at C, the Stochastic breaks below 30%, entering the short term bearish territory. Technically, the market movement for the short term is expected to be bearish biased, until the Stochastic could break above 30% level.

In conclusion, the FBMACE is trending down now, with the 14, 21, 31 EMA serving as a dynamic resistance. Therefore, the technical outlook for the FBMACE is bearish.

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