Meanwhile, the Bollinger Bands is still contracting, suggesting that the FBMACE is still consolidating. However, with the FBMACE below the Bollinger Middle Band, immediate technical outlook for the FBMACE is on the negative side. If the Bollinger Bands should re-expand with the FBMACE below the Bollinger Middle Band, more downside movement is expected for the FBMACE.

As circled at B, the Stochastic fell below 30%, entering the short term bearish territory. If the Stochastic should stay below 30%, the market movement for the short term is expected to be bearish bias.

As circled at C, the MACD histogram is still falling, thus suggesting that the FBMACE is losing strength, and this is normal for the FBMACE is still consolidating. The weakening of the FBMACE is expected to continue until the MACD histogram should form a Rounding Bottom.

In conclusion, short term indicators like the Stochastic and MACD histogram are suggesting negative signal, but the FBMACE has not formed a downtrend yet, as it is well supported by the 14, 21, 31 EMA.

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