On Friday, the FBMACE gained 66.08 points or 1.74%, to close at 3854.87 points. As indicated by A, the FBMACE is still testing the 14, 21, 31 EMA dynamic. Next resistance for the FBMACE is at 3900 followed by the 4000 psychological mark, while the support remains unchanged at 3640.

As indicated by B, the Stochastic is still rising, after breaking above 70% on Thursday. The Stochastic is still showing a short term bullish signal, suggesting that the short term movement of the FBMACE is still improving.

Meanwhile, the MACD line is gradually rising, and suggesting some improvement in the mid to long term movement of the FBMACE. However, as the MACD line is still below zero level, the mid to long term movement is still negative. The MACD histogram is still rising suggesting that the short term movement of the FBMACE is gaining strength, and the improvement is expected to carry on until the MACD histogram forms a Rounding Top.

In conclusion, despite the short term movement improvement, the downtrend of the FBMACE remains intact. Technically, the FBMACE would have to first break above the 14, 21, 31 EMA, the followed by a higher-lows, only then it would be a possible reversal signal. Until then, the technical outlook for the FBMACE is still weak.

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