As indicated by A, the FBMACE had its intra-day high reaching 3711.87 points, but it only managed to close 7.91 points higher. Currently, the FBMACE is still resisted by the 14, 21, 31 EMA dynamic resistance. Since the break out above 3640 was not significant, the 3640 is still serving as the resistance to the FBMACE, while the support is still at 3418.

As indicated by B, the Stochastic started falling on Tuesday, and now testing the 70% level. If the Stochastic should break below 70%, it would mark an end to the short term bullish signal.

As indicated by C, the MACD histogram is still rising, but at a slower pace. If the MACD histogram should stop rising, it could be forming a Rounding top. Technically, when the MACD histogram forms a Rounding Top, it suggests that the FBMACE is losing strength.

In conclusion, the downtrend for the FBMACE remains intact, and the technical outlook for the FBMACE is still negative. If the FBMACE should start falling after being resisted by the 14, 21, 31 EMA dynamic resistance, it would be forming lower-highs.

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