As indicated by A, after being resisted by 4100 resistance, the FBMACE continue to fall on Tuesday, losing 48.07 points or 1.19%, to close at 3983.37 points. Support for the FBMACE remains at 3860 as well as the 14, 21, 31 EMA dynamic support.

As indicated by B, total market volume falls below 70%, thus the short term bullish signal has ended, and also started a short term technical correction signal. If the Stochastic should later break below 30%, it would be a short term bearish signal for the FBMACE.

As indicated by C, the MACD histogram is still falling, and this suggests that the FBMACE is losing strength. The weakness of the FBMACE is expected to carry on until the MACD histogram should form a Rounding Bottom.

In conclusion, the short term uptrend of the FBMACE is still intact, as the FBMACE is still able to stay above the 14, 21, 31 EMA, and the immediate technical outlook for the FBMACE is still positive. Of course, if the FBMACE should break below the 14, 21, 31 EMA, the short term uptrend would come to an end.

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