Saturday, July 26, 2014

Weekly Market Reivew K200

K200 closed at 263.47 on Friday, 25-Jul-2014, gained 1.81 (0.69%) over the last 5 trading days.

While this week ended with a higher high, the climb for whole week is only 1.81 (0.69%).  Is it losing strength?  Or is it consolidating strength for the next push/jump?

Looking at bigger picture, if we do another Fibonacci extension with the recent lower high and higher low, K200 just hit the 100% mark.  If base on past moves, this could be its turning point to go down.
However, if we ignore the previous lower high (since it didn't even touch 61.80%), then it still have room to go towards 267-268.  Let's see.

On the weekly chart, it looks like it will continue its uptrend move.  However, 264.50 seems to be a resistance.  Let's see if it can break next week.

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