Meanwhile, the Bollinger Bands contracted 29%, suggesting that the FBMACE is still consolidating. We have to wait until the re-expansion of the Bollinger Bands to determine the new direction of the FBMACE.

As circled at B, the Stochastic failed to break above 30%, thus showing the short term bearish signal. This suggests that the short term movement of the FBMACE is still weak.

As shown on C, the DMI is showing a bearish trend signal, as the ADX is rising together with the -DI line. This suggests that the recent fluctuation of price is mostly on the lower side, and if the -DI should keep rising with the ADX line, the FBMACE is expected to trend down further.

In conclusion, after consolidating in sideways manner for almost 1 week, the FBMACE has not broken above the 14, 21, 31 EMA, thus the immediate technical outlook for the FBMACE remains weak. If the Bollinger Bands should re-expands, with the FBMACE below the Bollinger Middle Band, more downside biased movement is expected.

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