As indicated by A, the FBMACE rebounded last week, but was resisted by the 3640 resistance as well as the 14, 21, 31 EMA dynamic resistance, and on Monday, the FBMACE fell 33.75 points or 0.94%. Support for the FBMACE remains at 3418.

As indicated by B, the Stochastic retreated slightly, but not yet breaking below 30%. This suggests that the short term technical rebound signal for the FBMACE remains intact. 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, and it might be forming a Rounding Top. If the MACD histogram should begin falling, it suggests that the FBMACE is losing strength. Meanwhile, the MACD line is still staying below the zero level, and this suggests that the mid to long term movement of the FBMACE is still weak.

In conclusion, when the FBMACE was resisted by the 3640 resistance as well as the 14, 21, 31 EMA dynamic resistance, it was also forming lower-highs, which suggests that the downtrend is still intact, and the technical outlook is still negative.

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