As indicated by A, the FBMACE breaks above 3860 resistance on Monday, with an opening gap, and closing at its daily high of 4000.5 points. The FBMACE is now testing its 4000 psychological resistance, and the next resistance for the FBMACE is at 4100, which is the 61.8% Fibonacci Retracement line. Support for the FBMACE is at 3860.

As indicated by B, the Stochastic is still touching 100%, which is the over-bought region of the Stochastic. This suggests that the short term movement of the FBMACE is over-heated, thus the risk of a pull-back is still imminent.

As indicated by C, the MACD histogram is still rising. Of course, the FBMACE is still gaining momentum. Therefore, the MACD histogram is not yet forming a Rounding Top.

In conclusion, the FBMACE breaks above 14, 21, 31 EMA, thus temporary breaking away from the downtrend. However, the FBMACE is not yet forming an uptrend, not until it should form higher-lows.

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