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As indicated
by A, after rebounding for a few days, the
FBMACE is still testing the 14, 21, 31 EMA
dynamic resistance. This suggests that the
technical outlook for the FBMACE remains
negative. Support for the FBMACE is at 4000.
As indicated
by B, the Stochastic is now at 50%, which is
the short term neutral region. Technically,
the Stochastic would have to break above
70%, in order to trigger a short term
bullish signal.
As circled at
C, the MACD histogram is still rising, thus
suggesting that the FBMACE is still picking
up some strength. The improvement of the
FBMACE is expected to carry on until the
MACD histogram should form a Rounding Top.
In conclusion,
despite the rebound, technical outlook for
the FBMACE remains negative for the 14, 21,
31 EMA is still serving as the dynamic
resistance. If the FBMACE should start
falling after being resisted by the 14, 21,
31 EMA, it would form lower-highs.
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