As indicated by A, the FBMACE started to rebound on Wednesday after being a short term over-sold condition. The FBMACE gained 37.01 points or 0.99%, while supported by the 3630 level. Do note that 3640 was the low of May and August of 2010, thus it is an important support for the FBMACE, while the resistance for the FBMACE is at 4000.

As indicated by B, the Stochastic remains below 30%, in the short term bearish territory. This suggests that the short term movement of the FBMACE is still weak.

As indicated by C, the DMI -DI line remains above the +DI line, and this suggests that the volatility of the FBMACE has been bearish biased. And as long as the -DI line should stay above the +DI, it is a bearish signal for the mid term movement.

In conclusion, the downtrend remains intact for the FBMACE but due to short term over-sold condition, a rebound is still likely for the FBMACE. But still, the technical outlook for the FBMACE remains weak as the FBMACE is still staying below the 14, 21, 31 EMA dynamic resistance.

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