As indicated by A, the FBMACE was resisted by the Exponential Moving Average (EMA) on Thursday, losing 23.83 points or 0.58%. Meanwhile, the FBMACE is also staying below the L1 downtrend line, and the downtrend remains intact. Support for the FBMACE is at 4000 level.

As indicated by B, the Stochastic fell below 70%, and this marks an end to the short term bullish signal. If the Stochastic should fall below 30%, it would be a short term bearish signal for the FBMACE.

As indicated by C, the MACD histogram stopped rising, and if the MACD histogram should start falling, it would be forming a Rounding Top. The falling of the MACD histogram suggests that the FBMACE is losing strength.

In short, as the time that the FBMACE is resisted by the L1 line and the 14, 21, 31 EMA dynamic resistance, the FBMACE is also forming a Lower-High, which is one of the characteristic of a downtrend. If the FBMACE should later break below 4000 points, it would be making a new low.

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