Sunday, June 14, 2015

Weekly Market Review K200

Daily : Downtrend.
  • Lower high lower low.  Price failed to stay within the Jun 3rd bar and closed below the Fibo 61.80%.  The resistance turn support at 254.68 didn't hold.  It is heading towards the previous low near 250.
  • MACD is still heading down but start to narrow.  My view is still bearish.  Any up move is probably just retracement.

Weekly : Downtrend.
  • Lower high lower low.  Price just stay slightly above the bottom of the previous Inside bar range (260.68-251.43).  MA200 is around that level too.  That should provide some temporary support.
  • MACD is heading down and open wide.  Weekly view is still bearish.

Monthly : Sideway.
  • Price move down back to the middle of the range.  Both the current and previous bar look bearish.  We could see price move down to the lower of the range.

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