As indicated by A, the FBMACE has its intra-day low on Tuesday reaching 3523.41 points, but managed to rebound at the last minute before the closing bell, reducing its daily losses to only 0.61 points, at 3565.59 points. However, the 14, 21, 31 EMA is still serving as the dynamic resistance to the FBMACE, while the support remains at 3418.

As indicated by B, the Stochastic is still at 50%, thus not showing any bullish or bearish biased signal. Nevertheless, if the Stochastic should later break below 30%, it would be a short term bearish signal, and on the contrary, if the Stochastic should break above 70%, it would be a short term bullish biased signal for the FBMACE.

As indicated by C, the MACD histogram is not yet forming a Rounding Top, thus now showing any weakening signal of the FBMACE yet. However, the MACD line remains below the zero level, and this suggests that the mid to long term movement of the FBMACE is still weak.

In conclusion, the downtrend of the FBMACE is still intact, and as long as the FBMACE is still resisted by the 14, 21, 31 EMA, the technical outlook is expected to be negative.

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