On Thursday, the FBMACE tested the 14, 21, 31 EMA, but still precisely resisted by the 14-day EMA, and ended the day at 3749.49, gaining only 5.61 points or 0.15%. Support for the FBMACE remains at 3640.

As indicated by B, the Stochastic fell marginally below 30%, entering the short term bearish territory. If the Stochastic should later continues to stay below 30%, the short term movement of the FBMACE is expected to stay weak.

As indicated by C, the MACD histogram is still falling, thus suggesting that the FBMACE is losing its strength. Meanwhile, the MACD line stays below zero level, suggesting that the long term movement of the FBMACE is still weak.

In conclusion, the downtrend of the FBMACE remains intact, and as long as the FBMACE is still resisted by the 14, 21, 31 EMA dynamic resistance, the technical outlook shall remain negative.

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