Sunday, June 7, 2015

Weekly Market Review K200

Daily : Downtrend.  
  • Lower high lower low.  MA200 failed to hold.  MACD heading down and widen.  
  • June 4th & 5th bar are both inside bars of 3rd bar.  No direction.  Most of time, it will break in the direction of the trend, that is down.  
  • It is near fibo 61.80% level.  And it just hold above the resistance turn support at 254.68.  This may provide some support, or even retrace for a while.  
  • But my view is still bearish, unless the future chart shows a different view.

Weekly : Downtrend.
  • Lower high lower low.  Uptrend line failed to hold.  Price slightly below MA50.  
  • Back to the previous Inside bar range (260.68-251.43).  The 260.68 level has been a support for 4 weeks.  The bottom 251.43 should provide some support?  MA200 is around that level too.
  • MACD is making a cross down.  Weekly view is bearish.

Monthly : Sideway.
  • It is a obvious sideway market since October/November 2012.  That is sideway for 30 months.

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