Meanwhile, the Bollinger Bands contracted 5%, suggesting that the FBMACE is likely to consolidate. If the Bollinger Bands should continue to contract, the consolidation would continue, and the FBMACE could have a technical rebound.

As circled at B, the Stochastic stays below 30%, in the short term bearish territory. This suggests that the short term movement of the FBMACE is still weak, unless the Stochastic could successfully break above 30%.

Although the FBMACE rebounded, the MACD histogram is still falling, while no Rounding Bottom is sighted yet. Meanwhile, the MACD line is still below the zero level, this suggests that the longer term movement of the FBMACE is still weak.

In short, the bearish biased technical outlook remains intact, despite a small rebound. As long as the FBMACE is still resisted by the 14, 21, 31 EMA, the FBMACE is still on the weakening trend.

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