Meanwhile, the Bollinger Bands is still contracting, suggesting that the FBMACE is still consolidating. However, immediate technical outlook for the FBMACE is still positive as the FBMACE is above the Bollinger Middle Band.

As circled at B, the Stochastic returned to above 70%, re-entering the short term bullish region. Therefore, if the Stochastic could stay above 70%, the market movement for the short term is expected to be bullish biased.

As circled at C, despite the Stochastic is showing positive signal, the MACD histogram is still falling, suggesting that the FBMACE is basically still consolidating, until the MACD histogram should form a Rounding Bottom.

In short, the uptrend of the FBMACE remains intact, as the 14, 21, 31 EMA dynamic support is still in position. However, the upside room is temporary capped by the 4430 WinChart Automatic Fibonacci Retracement, and therefore, breaking above this resistance is a must, in order to continue the uptrend.

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