Meanwhile, the Bollinger Bands is still contracting and this suggests that the FBMACE direction is unclear as it is still moving in a sideways manner. We shall wait till the re-expansion of the Bollinger Bands, and then determine the next possible direction by the relative position of the FBMACE above or below the Bollinger Middle Band.

As circled at B, the Stochastic is still staying around 50%, and this suggests that the short term movement of the FBMACE is at neutral.

As indicated by C, the MACD histogram is moving flat, and can not really forming a clear Rounding Top or Rounding Bottom. Therefore, the MACD histogram signal for now is basically unreliable.

In conclusion, despite the unclear direction, and the technical outlook for the FBMACE is still on the weaker side. This is because the L1 line has been outlining the formation of lower-highs of the FBMACE, and there are not signs of any higher-low formation. It is only the 4200 support that is preventing the FBMACE from going into a downtrend. Nevertheless, the next support is at 4113 WinChart Automatic Fibonacci Retracement followed by the 4000 psychological support.

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