On Wednesday, the FBMACE had its intra-day low reaching 3699.60 points, but it managed to rebound right before closing, gaining 11.79 points or 0.3%, to close at 3750.18 points. Support for the FBMACE is at 3622.46 WinChart Automatic Fibonacci Retracement, while the resistance is at 3892.81 WinChart Automatic Fibonacci Retracement.

As indicated by A, the 14, 21, 31 EMA is still falling while serving as the dynamic resistance for the FBMACE, this suggests that the FBMACE is still in downtrend, thus the technical outlook is still weak.

As circled at B, the Stochastic rebounded at 30%, without entering the short term bearish territory. Therefore, if the Stochastic should stay above 30%, the FBMACE is likely to consolidate in short term.

As indicated by C, the -DI line and the ADX are still moving higher, therefore, the DMI is still showing a bear signal for the FBMACE, despite the short term consolidation signal of the Stochastic. The bear signal shall remain intact, until the +DI line could successfully break above the -DI line.

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