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On Thursday,
the FBMACE had its intraday high reaching
4708.68 points, but it only manged to close
at 4679 points, up 8.9 points or 0.19%. As
indicated by A, the 14, 21, 31 EMA is still
serving as the dynamic support to the
FBMACE, while the resistance remains at
4750.
As indicated
by B, the Stochastic fell slightly, but
still above 70%, in the short term bullish
region. This suggests that the short term
movement of the FBMACE is still positive. If
the Stochastic should break below 70%, it
would be a signal suggesting a beginning of
a technical correction.
As indicated
by C, the DMI +DI line is still above the
-DI line, suggesting that the uptrend is
still intact.
In conclusion,
the uptrend remains intact for the FBMACE,
but since the FBMACE is forming a Doji star,
it implies that the FBMACE might have a
correction. Nevertheless, a correction is
only normal for the FBMACE, and provided
that the FBMACE could remain supported by
the 14, 21, 31 EMA dynamic support, the
technical outlook shall remain positive.
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