On Monday, the FBMACE broke below 3814 WinChart Automatic Fibonacci Retracement, losing 41.41 points or 1.1%, and breaking a 1 year new low. With the FBMACE not showing any sign of a rebound yet, there is no strong support yet. However, based on the WinChart Automatic Fibonacci 61.8% Retracement line, the next support for the FBMACE is seen at 3567 points while the resistance is at 3817 WinChart Automatic Fibonacci Retracement.

As indicated by A, the 14, 21, 31 EMA is still serving as the dynamic resistance for the FBMACE, and therefore, with the FBMACE below the dynamic resistance, the technical outlook is expected to be weak.

As circled at B, the Stochastic remains below 30%, in the short term bearish territory. Therefore, the short term movement of the FBMACE is still bearish biased, until a valid break out above the 30% level.

As indicated by C, the MACD line is still falling, suggesting that the FBMACE is still trending weak. Meanwhile, no Rounding Bottom yet from the MACD histogram, and therefore, there is no technical rebound signal yet.

In conclusion, the downtrend remains intact, and the characteristic of a downtrend is a lower-high after each technical rebound, and new low. The current downtrend is expected to carry on, until the FBMACE could successfully break above the 14, 21, 31 EMA.

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