Selling across the board, as negative factors keep appearing -downgrading of bank, flu worsening - building up this week negative tone. Mkt basically breaks all short term support lvl, leaving only 30-day SMA, calling for more selling. Technically, still no sign for bargain. RSI/Stoch near oversold but still pointing downward.While trend remains down, selling above 1050++ is not recommended as it may signal a rebound. If wanting to sell, sell at rebound target , the downtrend line with the assumption that the dwtrend will remain. Sell below 1050 for intra-day.
Focus, look for strength, if any, to long, betting for a bounce.
No comments:
Post a Comment