Meanwhile, the Bollinger Bands is still contracting, and this suggests that the FBMACE is still consolidating. However, the FBMACE broke below the Bollinger Middle Band on Thursday, and therefore, the immediate technical outlook is now turning negative.

As circled at B, the Stochastic started falling on Thursday, but it has not broken below 30%, and therefore, it has not triggered any short term bearish signal for the FBMACE.

As circled at C, the MACD histogram is still falling, and hence does not form a Rounding Bottom yet. The falling of the MACD histogram suggests that the FBMACE is still losing strength, until the MACD histogram should form a Rounding Bottom.

In conclusion, ever since rebounding from the 14, 21, 31 EMA, the FBMACE has failed to return to its peak of 4749.8, but instead, now starting to retreat at a lower-high. Fortunately, the FBMACE has not broken below the 14, 21, 31 EMA. If so, the technical outlook of the FBMACE would turn negative.

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