Meanwhile, the Bollinger Bands only expanded 11%, and when compared to the previous expansion rate, it seems like that the Bollinger Bands might be contracting soon. If the Bollinger Bands should begin to contract, it would be a signal suggesting a consolidation for the FBMACE. Nevertheless, with the FBMACE below the Bollinger Middle Band, immediate technical outlook is on the lower side.

As circled at B, the Stochastic rebounded slightly, but still stayed below 30%, in the short term bearish region. This suggests that the short term movement of the FBMACE is still on the negative side, until the Stochastic could successfully break above the 30% level.

As circled at C, the MACD histogram is still falling, and therefore, it has not formed a Rounding Bottom yet. The falling of the MACD histogram suggests that the FBMACE is still losing strength.

In short, despite the technical rebound, the FBMACE is resisted by the 14, 21, 31 EMA, thus the technical outlook shall remains bearish bias. For the moment, the best scenario for the FBMACE would be a sideways consolidation, so that it would temporary staying away from the downtrend formation.

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