As indicated by A, the FBMACE was precisely resisted by the L1 downtrend line on Monday, closing 50.75 points or 1.22% lower. Meanwhile, the Exponential Moving Average (EMA) is also serving as the dynamic resistance to the FBMACE. Support for the FBMACE is at 4000 points.

As indicated by B, the Stochastic below 70% on Monday, and this suggests that the short term bullish signal for the FBMACE has come to an end. If the Stochastic should continue to fall, and later break below 30%, it would be a short term bearish signal for the FBMACE.

As indicated by C, the MACD line remains below zero level, and this suggests that the mid to long term movement of the FBMACE is still weak, despite that the MACD histogram has not formed a Rounding Top.

In short, the technical outlook for the FBMACE is still weak, and at the same time when the FBMACE is being resisted by the L1 line, it also formed a new Lower-High, which indicates the weakness of the FBMACE movement.

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