As indicated by A, the FBMACE tested the 3640 as well as the 14, 21, 31 EMA dynamic resistance on Friday, after rebounding from its daily low on Monday. Still, the FBMACE is resisted by the 14, 21, 31 EMA dynamic, and the support remains at 3418.

As indicated by B, the Stochastic retreated slightly, thus not yet breaking above 70%. This suggests that there is no short term bullish signal yet for the FBMACE. On the other hand, if the Stochastic should fall below 30% again, it would be a short term bearish signal for the FBMACE.

As indicated by C, the MACD histogram is still not yet forming a Rounding Top. If the MACD histogram should form a Rounding Top, and the falling of the MACD histogram would imply that the FBMACE is losing strength.

In conclusion, the downtrend of the FBMACE is still intact, as the FBMACE is still resisted by the 14, 21, 31 EMA. Therefore, the technical outlook for the FBMACE is still negative for now.

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