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On Friday, the
FBMACE gained only 4.68 points or 0.11%, to
close at 4158.98 points. As indicated by A,
the FBMACE is still supported by the 14, 21,
31 EMA dynamic support, while the resistance
remains unchanged at 4350 followed by 4500.
As indicated
by B, the Stochastic only rose slightly,
thus not yet breaking above 70%. Currently,
the Stochastic is showing a neutral signal
for it is situated at 50% level. This
suggests that the short term movement of the
FBMACE is at a consolidation.
As indicated
by C, the -DI line of the DMI is still above
the +DI line. Therefore, the DMI signal is
still showing some negative signal. If the
-DI line should rise with the ADX, it would
be a bearish signal for the FBMACE.
In conclusion,
the FBMACE is consolidating above the 14,
21, 31 EMA, while the uptrend is still
intact. Currently, the technical outlook for
the FBMACE is still positive.
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