The FBMACE continues to retreat on Wednesday, falling 25.36 points or 0.59%, to close at 4246.07 points. However, the FBMACE is still supported by the 14, 21, 31 EMA dynamic support, while the resistance is still at 4500 level.

As indicated by B, the Stochastic is still falling, but not yet breaking below 70%. This suggests that the short term bullish signal is still intact. If the Stochastic should fall below 70%, it would be a signal suggesting an end to the short term bullish signal, and also a signal suggesting a beginning of a technical correction.

As indicated by C, the +DI line of the DMI is still falling but not yet breaking below -DI line. This suggests that the bullish signal is still intact. However, ideally, the +DI line has to be rising, together with the ADX, then only the bullish signal is sustainable.

In conclusion, the uptrend of the FBMACE is still intact, with signs of technical correction. Technically, the technical outlook for the FBMACE is still positive, provided that the FBMACE is still staying above the 14, 21, 31 EMA.

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