FBMACE-2012-02-10e

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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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