Meanwhile, the Bollinger Bands expanded 15%, with the FBMACE below the Bollinger Middle Band, thus the FBMACE technical outlook remains bearish biased. The weakening outlook is expected to carry on until the contraction of the Bollinger Bands.

As circled at B, the Stochastic remains below 30%, in the short term bearish territory. Therefore, this suggests that the market movement for the short term is still weak, unless the Stochastic could break above 30%.

As circled at C, the MACD histogram is still falling, and therefore, it has not formed any Rounding Bottom yet. This suggests that the FBMACE is still losing strength, and the weakening of the FBMACE shall expected to continue, until the MACD histogram should form a Rounding Bottom.

In conclusion, the technical outlook is weak as the FBMACE is still below the Bollinger Middle Band as well as the 14, 21, 31 EMA. Technically, any rebound would only be considered as technical rebound, unless the FBMACE could break above the 14, 21, 31 EMA.

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