As indicated by A, the FBMACE managed to rebound from the 14, 21, 31 EMA dynamic support on Wednesday, gaining 46.53 points or 1.17%. This suggests that the short term uptrend of the FBMACE is still intact. Resistance for the FBMACE remains at 4100.

As indicated by B, the Stochastic rebounded slightly, thus not breaking below 30%. But still, the Stochastic has not broken above 70% neither, thus not yet triggering any short term bullish signal.

As indicated by C, despite the rebound on Wednesday, the MACD histogram is still falling, thus not forming any Rounding Bottom. This suggests that the FBMACE in general is still losing strength.

In conclusion, the short term uptrend of the FBMACE remains intact, but in order for the FBMACE to extend this uptrend, it would have to break above 4100 mark. Of course, the performance of the European and the US markets is still playing a major role in affecting the overall performance of the Malaysian market.

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