Meanwhile, the Bollinger Bands is still contracting, suggesting that the FBMACE has not broken away from its consolidating stage. Technically, the Bollinger Bands has to re-expand to suggest an end to the consolidation, then the position of the FBMACE above or below the Bollinger Middle Band, would determined the direction of the new movement.

As circled at B, the Stochastic returned to above 70%, returning to the short term bullish territory. If the Stochastic could remain above 70%, the FBMACE movement for the short term is expected to be on the positive side.

As circled at C, the MACD histogram breaks above the zero level, suggesting that the FBMACE is picking up some strength in the short term. However, the MACD histogram remains below the zero level, and this suggests that the medium to longer term movement of the FBMACE is still weak.

In short, there is a sign of short term improvement for the FBMACE, but the re-expansion of the Bollinger Bands with the FBMACE above the Bollinger Middle Band is needed to confirm such movement. Otherwise, the downtrend remains intact unless the FBMACE could break above the 14, 21, 31 EMA totally.

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