Meanwhile, the Bollinger Bands contracted 10%, and this suggests that the FBMACE is still consolidating, while also preparing for a new movement, but the direction of the new movement could only be revealed when the Bollinger Bands re-expands.

As circled at B, the Stochastic breaks above 30%, breaking away from the short term bearish territory. This also marks a beginning of a technical rebound. If the Stochastic could break above 70%, it would be a short term bullish signal.

As circled at C, the MACD histogram is still rising, thus the MACD histogram is still showing a Rounding Bottom. This suggests that the FBMACE is still gaining strength, and the improvement of the FBMACE is expected to continue until the MACD histogram forms a Rounding Top.

In short, despite the technical rebound, the technical outlook of the FBMACE remains on the negative side, until the FBMACE could break above 14, 21, 31 EMA dynamic resistance.

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