FBMACE-2012-02-03e

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As shown on the chart above, the FBMACE gained 19.14 points or 0.42% on Friday, to close at 4536.63 points. As indicated by A, the 14, 21, 31 EMA is still serving as the dynamic support to the FBMACE, and the resistance for the FBMACE remains at 4541.

As indicated by B, the Stochastic stays 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 +DI line of the DMI is still falling, but not yet breaking below the -DI line. This suggests that the bullish signal is still intact. The falling of the +DI line for the moment, implies a consolidating stage of the FBMACE.

In conclusion, the FBMACE uptrend is still intact, and the technical outlook remains positive, provided that the FBMACE is still supported by the 14, 21, 31 EMA dynamic support.

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