As indicated by A, the FBMACE was trading a narrow range on Thursday, while losing 7.75 points or 0.21% lower. The FBMACE is still supported by 3640 for now with a chance of a technical rebound or a consolidation at this level. Resistance for the FBMACE is at 4000.

As indicated by B, the Stochastic stays 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 MACD line is still falling while below the zero level, and this suggests that the mid to long term movement of the FBMACE is still weak. Meanwhile, no Rounding Bottom is sighted yet in the MACD histogram, and therefore, this suggests that the FBMACE is not yet picking up any strength yet.

In conclusion, despite a chance of a consolidation or a technical rebound, the downtrend for the FBMACE is still intact, while the technical outlook stays weak.

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