On Thursday, the FBMACE fell sharply, losing 128.86 points or 2.68% to close at 4676.38 points. As indicated by A, the FBMACE is now testing the 14, 21, 31 EMA dynamic support. Immediate resistance for the FBMACE is at 4834 followed by 5000.

Due to the sharp fall of the FBMACE, the Stochastic breaks below 70%, 50%, and 30% level, entering the short-term bearish territory. If the Stochastic should stay below 30%, the market movement for the short-term is likely to be on the weaker side.

As indicated by C, the +DI line of the DMI was also falling together with most indicators. However, it has not yet crossing below the -DI, thus suggesting that the uptrend for the FBMACE is still in place.

In conclusion, the FBMACE has its biggest fall since 21/11/2011, and therefore, many of the technical indicators are likely to trigger negative signals, and these could be over sensitive. Nevertheless, the important factor is that the FBMACE should stay above the 14, 21, 31 EMA in order to sustain its uptrend. For now, it is still too early to call for any reversal, for we have not spotted any lower-highs formation.