FBMACE-2012-01-18e

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As indicated by A, the FBMACE was still traded in a narrow range, gaining 10.90 points to close at 4286.55 points. The FBMACE is still supported by the 14, 21, 31 EMA dynamic support, while the resistance is at 4350 points.

As indicated by B, the Stochastic is still staying above 70%, in the short term bullish territory. This suggests that the FBMACE short term movement is still positive, despite the current consolidation.

As circled at C, the MACD histogram is still falling, while the Rounding Top remains intact. This suggests that the FBMACE is still in its consolidating mode.

In conclusion, the FBMACE is consolidating, with positive technical outlook. In fact, the current sideways consolidation is the best technical scenario for the FBMACE, which is likely pave the way for the breakout above 4350 resistance.

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