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As indicated
by A, the FBMACE fell 57.07 points or 1.21%,
while testing the 14, 21 ,31 EMA dynamic
support. Resistance for the FBMACE remains
at 4834 points.
As indicated
by B, the Stochastic breaks below 30%,
entering the short-term bearish territory.
This suggests some short-term weakness for
the FBMACE, and if the Stochastic should
continue to stay below 30%, the short-term
movement of the FBMACE is likely to be
weaker.
As indicated
by C, the DMI -DI line breaks above +DI line
by margin. If the -DI line should continue
to stay above the +DI, it suggests that the
uptrend of the FBMACE is being interrupted,
but not yet a bearish reversal signal.
In conclusion,
the FBMACE is testing its dynamic support
with some short-term weakness, but not yet
showing any signs of a reversal, not until
the FBMACE should form Lower-highs, which
will be one of the downtrend formation
characteristics.
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