As indicated by A, the FBMACE were mostly below the 14, 21, 31 EMA on Tuesday, but surged at the last minute before the closing bell, breaking marginally above the 31-day EMA. This break out is not yet confirmed, for it is insignificant. Support for the FBMACE remains at 4000 while the resistance is at 4218 WinChart automatic Fibonacci retracement.

As indicated by B, the Stochastic stays above 70%, in the short term bullish territory. This suggests that the short term movement of the FBMACE is still positive.

As indicated by C, the MACD line continue rising, as it implies some improvement on the mid to long term movement. However, with the MACD line still below zero, the mid to long term movement of the FBMACE is still weak.

In short, the FBMACE is not yet confirmed breaking away from the downtrend. Even if the FBMACE should break away from the downtrend, it is likely that the FBMACE to stay in a sideways consolidation.

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