As indicated by A, the FBMACE retreated as it tested the 14, 21, 31 EMA, which is still the dynamic resistance for the FBMACE. The FBMACE loss 52.45 points or 1.3%, while the downtrend remains intact.

As shown on the chart above, the 3900 WinChart Automatic Fibonacci Retracement i still the support for the FBMACE; if the FBMACE should break below this level, next support is seen at 3814 WinChart Automatic Fibonacci Retracement. Technically, with the FBMACE staying below the falling 14, 21, 31 EMA, the technical outlook shall remain weak.

As circled at B, the Stochastic breaks below 30%, re-entered the short term bearish territory, suggesting that the short term movement of the FBMACE is now bearish biased again.

As indicated by C, the MACD line failed to break above the trigger line, and as a result, the MACD histogram failed to break above the zero level. This shows that the FBMACE is basically trending down, and further more, with the MACD line remains below zero level, it suggests that the mid to longer term movement is indeed bearish biased.

In conclusion, the downtrend of the FBMACE is still intact, but temporary supported by the 3900 level. If the FBMACE should break below 3900, more downside movement is expected for the FBMACE.

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