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As indicated
by A, the FBMACE did not pullback, but
instead, gaining another 66.59 points or
1.42%, to close at 4745.59 points.
Nevertheless, the 14, 21, 31 EMA is still
serving as the dynamic support to the FBMACE
and the next resistance is still at 4750.
As indicated
by B, the Stochastic is touching 100% again,
and this suggests that the short term
movement of the FBMACE is again at
over-bought condition, and a pullback is
still likely to take place in the near
future.
As indicated
by C, the DMI +DI line continues to rise,
while staying above the -DI line. This
suggests that the uptrend of the FBMACE is
still intact.
In conclusion,
despite the short-term over-bought
condition, the technical outlook for the
FBMACE remains positive, as long as the
FBMACE could stay above the rising 14, 21,
31 EMA dynamic support.
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