Despite the strong gains of the major indices across the globe, the FBMACE managed to gain only 16.76 points or 0.41%. Nevertheless, as indicated by A, the FBMACE is still supported by the 14, 21, 31 EMA dynamic support, while the resistance remains at 4350 followed by 4500.

As indicated by B, the Stochastic breaks above 30%, leaving the short term bearish territory. This is also a technical rebound signal. Technically, if the Stochastic should break above 70%, it would be a short term bullish signal for the FBMACE.

As indicated by C, the -DI of the DMI retreated slightly, but still above the +DI line. This suggests that the recent volatility of the FBMACE is still negative. Fortunately, the -DI line is not yet rising together with the ADX, or else, it would be a bearish signal for the FBMACE.

In conclusion, with the FBMACE above the 14, 21, 31 EMA, the uptrend of the FBMACE remains intact. However, in order to extend the uptrend, the FBMACE would have to break above the 4350 resistance.