On Thursday, the FBMACE attempted to break above the 4100 resistance, with its daily high reaching 4110.61 points. However, as indicated by A, profit taking activity is still strong and pushed the FBMACE back below the 4100 resistance, to close at 4044.85 points, gaining only 14.95 points or 0.37%. the 14, 21, 31 EMA is still serving as the dynamic support to the FBMACE.

As indicated by B, the Stochastic rebounded on Thursday, but not yet breaking above 70%, thus not yet giving any short term bullish signal.

As indicated by C, the MACD histogram is still falling, and therefore, not showing any Rounding bottom pattern. The falling of the MACD histogram suggests that the FBMACE is still not picking up any strength.

In conclusion, despite that the FBMACE is still resisted by the 4100 resistance, the short term uptrend of the FBMACE remains intact, and as long as it is still staying above the 14, 21, 31 EMA, the technical outlook is still positive.

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