As indicated by A, the FBMACE rose 20.82 points or 1.33%, to close at 3703.07 points. The FBMACE broke above the 3640 resistance, and now the next resistance for the FBMACE is seen at 3860. Support for the FBMACE is at 3640.

As indicated by B, the Stochastic rebounded at 70% on Wednesday, and therefore, it is still staying in the short term bullish region, suggesting that the short term movement of the FBMACE is still positive.

As indicated by C, the MACD histogram is still rising, and not yet forming a Rounding Top. This suggests that the FBMACE is still picking up its strength.

In conclusion, despite breaking above 3640, the FBMACE is still testing the 14, 21, 31 EMA dynamic resistance. Thus not yet breaking away from its downtrend. However, as long as the FBMACE could form higher-lows, it would be a positive signal for the FBMACE.

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