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On Monday, the
FBMACE had its intra-day high reaching
4790.49 points, but only managed to close at
4745.87 points. Gaining only 0.28 of a
point. The FBMACE is forming a long upper
shadow candlestick again, and this suggests
a possible pullback for the FBMACE.
Nevertheless, as indicated by A, the 14, 21,
31 EMA is still serving as the dynamic
support to the FBMACE.
As indicated
by B, the Stochastic remains above 70%
level, in the short term bullish territory.
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 correcting.
As indicated
by C, the DMI +DI line is still rising,
while staying above the -DI line. This
suggests that the uptrend of the FBMACE is
still intact, or the FBMACE is sill trending
in its bullish territory.
In conclusion,
despite showing sign of over-heating, and a
chance of pull-back, the uptrend of the
FBMACE remains intact, and as long as the
FBMACE could remain supported by the 14, 21,
31 EMA, the technical outlook is still
positive.
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