Meanwhile, the Bollinger Bands did not expanded much on Friday, and therefore, the upside momentum of the FBMACE failed to carry on. Nevertheless, support for the FBMACE remains at 3622 WinChart Automatic Fibonacci Retracement while the resistance is at 3891 WinChart Automatic Fibonacci Retracement.

As circled at B, the Stochastic breaks below 70%, thus the short term bullish signal has failed to sustain. The Stochastic has to return to above 70% in the immediate term, in order for the FBMACE to resumes its short term bullishness.

As circled at C, the MACD histogram is still now forming a Rounding Bottom, thus suggesting that the FBMACE is not gaining much strength yet.

In conclusion, the FBMACE rally has paused due to profit taking activities. However, with the FBMACE still supported by the Bollinger Middle Band as well as the 14, 21, 31 EMA, the immediate technical outlook is still bullish biased. If the Bollinger Bands should continue to expand while the FBMACE still stays above the Bollinger Middle Band, the rally would resume.

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