Since the FBMACE has fallen below the 14, 21 ,31 EMA, the immediate technical outlook has turned bearish biased, with the 14, 21, 31 EMA now serving as the dynamic resistance. Meanwhile, the Bollinger Bands re-expanded, with the FBMACE below the Bollinger Middle Band, thus a bearish biased signal.

As circled at B, the Stochastic fell below 30%, entered the short term bearish territory. If the Stochastic should stay below 30%, the short term movement of the FBMACE is expected to be weak.

As circled at C, the MACD histogram is still falling, thus the Rounding Top remains in-sight. This suggests that the FBMACE is losing strength now, and the weakening of the FBMACE is expected to continue until the MACD histogram should form a Rounding Bottom.

In conclusion, as the FBMACE broke below the 14, 21, 31 EMA, it has failed to form an uptrend, and there is a risk of resuming its long term downtrend. In short, the technical outlook shall remains weak provided that the FBMACE is still below the Bollinger Middle Band as well as the 14, 21, 31 EMA.

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