As indicated by A, after being resisted by the FBMACE dynamic resistance on Thursday, the FBMACE fell 30.29 points with a gap down on Friday. Support for the FBMACE is still at 3640 while the resistance is at 4000 as well as the 14, 21, 31 EMA dynamic resistance.

As indicated by B, the Stochastic is not yet falling, thus not showing any short term bearish signal. However, it is not breaking above 50% neither, thus the Stochastic is now showing a neutral 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 has not formed a Rounding Top, and it is not suggesting any weakness of the FBMACE yet for the short term movement. However, with the MACD line still below the zero level, it suggests that the mid to long term movement of the FBMACE is still weak.

In conclusion, the downtrend of the FBMACE is still intact, and with the FBMACE forming a Lower-High on Friday, it suggests that the FBMACE is still trending weak. Technically, as long as the FBMACE is still resisted by the 14, 21, 31 EMA, the technical outlook for the FBMACE is still weak.

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