The FBMACE had its intra-day rebounding up to 19.43 points, but profit taking selling pressure pushes the FBMACE down at the close, at 3781.21 points, losing 8.4 points or 0.22%. As indicated by A, the FBMACE is still serving as the dynamic resistance to the FBMACE, and the support for the FBMACE is at 3640.

As indicated by B, the Stochastic failed to return to above 70%, thus the short term bullish signal has come to an end. If the Stochastic should later break below 30%, it would be a short term bearish signal for the FBMACE.

As indicated by C, the MACD histogram stopped rising on Tuesday, and if the MACD histogram should begin to fall, it would be forming a Rounding Top, which suggests that the FBMACE is losing strength. Meanwhile, the MACD line remains below zero level, suggesting that the mid to long term movement of the FBMACE is still weak.

In conclusion, the downside of the FBMACE is intact. As the FBMACE is being resisted by the 14, 21, 31 EMA dynamic resistance, it forms lower-highs, and the technical outlook for the FBMACE is still negative.

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