As indicated by A, the FBMACE closed almost flat, with only 8.14 points advance or 0.19%. The FBMACE broke above the 4260 Fibonacci Retracement resistance by margin, closing at 4268.61 points. Next resistance for the FBMACE is at 4500 while the support is still at the 14, 21, 31 EMA dynamic support.

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

As indicated by C, the MACD line is still rising, suggesting that the uptrend is still intact. Meanwhile, the MACD histogram stop rising, and therefore, might be forming a Rounding Top. If the MACD histogram should form a Rounding Top, it suggests that the FBMACE would consolidate.

In conclusion, with the FBMACE above the 14, 21, 31 EMA dynamic support, the current short term uptrend of the FBMACE is still intact.

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