Meanwhile, the Bollinger Bands only contracted 1%, and this shows that the FBMACE is still likely to consolidate if the Bollinger Bands should continue to contract. However, if the Bollinger Bands should re-expand, with the FBMACE below the Bollinger Middle Band, more downside movement is likely to for the FBMACE.

As circled at B, the Stochastic remained below 30%, in the short term bearish territory. Therefore, this suggests that the short term movement of the FBMACE is still bearish bias, until the Stochastic could successfully break above 30%.

As circled at C, the MACD histogram is still falling, and therefore, it has not formed a Rounding Bottom yet. If the MACD histogram should form a Rounding Bottom, it would mean an improvement of the short term movement or the FBMACE is picking up some strength. However, the current weakening movement of the FBMACE shall remain intact if the MACD histogram is still on the fall.

In conclusion, technical outlook for the FBMACE remains weak, and if only the Bollinger Bands could contract further, the FBMACE could consolidate, but the downtrend remains intact.

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