On Friday, the FBMACE ended 20.12 points higher to close at 4129.92 points. It also broke above the 14, 21, 31 EMA, and now is set to test the L1 descending line. Support for the FBMACE remains at 4000.

As indicated by B, the Stochastic is still rising, and now touching 100%, which suggests that the short term movement of the FBMACE is getting over-heated. Generally, a pullback effect or a technical correction is likely to take place in the near future, but provided that the Stochastic remains above 70%, the short term movement of the FBMACE is still positive.

As indicated by C, the MACD histogram is still rising, and also breaking above the zero level. This shows that the FBMACE is still picking up strength, and the improvement is expected to carry on until the MACD histogram should form a Rounding Top.

In conclusion, despite the improvement, the FBMACE has not formed an uptrend, at least, not until the FBMACE had formed higher-lows, and broke above the 4349.54.