On Monday, the FBMACE had its intra-day low at 4204.56 points, but it was supported by the 4200 level, and rebounded, and even closed with a 2.82 points gain. Meanwhile, as indicated by A, the FBMACE is still testing the 14, 21, 31 EMA dynamic resistance as well as the L1 line. If the FBMACE could break above this resistance, it would break away from its bearish biased movement.

As indicated by B, the Stochastic has not broken above 70%, but it is showing some tendency to the upside. Technically, if the Stochastic could break above 70%, it would be a short term bullish signal for the FBMACE.

As indicated by C, although the FBMACE is still not yet breaking away from its bearish biased movement, the MACD histogram is still rising gradually. This suggests that the FBMACE is still picking up its strength, though in a gradual pace.

In conclusion, whether the FBMACE could reverse into a bullish trend or turn into a downtrend, it will take time for the FBMACE to show the characteristics of either an uptrend or a downtrend formation.

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