As indicated by A, the FBMACE continue to rebound on Monday after last week's massive sell down. The FBMACE gained 20.75 points or 0.55%. Resistance for the FBMACE is still at 4000 level together with the 14, 21, 31 EMA dynamic resistance. Support for the FBMACE remains at 3640.

As indicated by B, the Stochastic is still rising gradually, but it has not broken above 30%, thus the short term bearish signal is still intact.

As indicated by C, the MACD histogram stopped falling, and if it should form a Rounding Bottom, it means that the FBMACE is picking up some strength. However, with the MACD line below the zero level, this suggests that the mid to long term movement of the FBMACE is still weak.

In conclusion, the FBMACE is only having a technical rebound for now, and this is not a reversal. Technically, as long as the FBMACE is still staying below the 14, 21, 31 EMA dynamic resistance, the technical outlook for the FBMACE is expected to be weak. Furthermore, the downtrend of the FBMACE is still intact.

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