FBMACE-2012-01-31e

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On Tuesday, the FBMACE retreated 24.90 points or 0.55%, but as indicated by A, the FBMACE is still supported by the 14, 21, 31 EMA dynamic support, and the uptrend remains intact. The immediate resistance for the FBMACE is at 4541 points.

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

As indicated by C, the DMI +DI line is still above the -DI line, with the ADX rising together with the +DI line, this suggests that the FBMACE is still trending up.

In conclusion, the technical outlook for the FBMACE remains positive, and if the FBMACE should rebound from the 14, 21, 31 EMA and form higher-lows, the uptrend is likely to be extended.

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