As indicated by A, the FBMACE gained 120.66 points or 3.26%, to end at 3823.73 points. The FBMACE broke above the 14, 21, 31 EMA dynamic resistance, and now testing the 3860 resistance. Support for the FBMACE is at 3640.

As indicated by B, the Stochastic remains above 70%, in the short term bullish territory. This suggests that the short term movement of the FBMACE is still positive.

As indicated by C, the MACD histogram is still rising, thus not forming Rounding Top. This suggests that the FBMACE is still gaining strength. Meanwhile, the MACD line is also getting closer to the zero level, and if the MACD line could break above the zero level, it suggests that the mid to long term movement of the FBMACE is improving.

In conclusion, the FBMACE is temporary breaking away from its downtrend. But it has not yet formed an uptrend, for we will still have to wait for higher-lows formation and the FBMACE would have to break above its resistance first in order to show the characteristic of an uptrend formation.

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