Friday, June 19, 2015

Weekly Market Review K200

Daily : Downtrend.
  • Lower high lower low.  Ever since it fell below 250, it failed in the last few attempts to close above 250.  Weak.  However it stay above the longer term uptrend line.
  • MACD is still heading down but narrowing.  Will it cross?  Or will it touch and widen again?  
  • My view remain bearish.  However, the MERS case is under control now.  We could see some support or even some up move from here.

Weekly : Downtrend.
  • Lower high lower low.  Price fell below MA200 and stay below.  Weak.  However, we have a long pin bar.  So, we might have some support here.  We need the next bar to confirm or reject it.
  • MACD is heading down and open wide.  Weekly view is still bearish.

Monthly : Sideway.
  • Price move down below the uptrend line and up back resting on it.  Still look bearish.  We have about 1.5 weeks to conclude this bar to see if it is a bearish bar or a pin bar.

No comments:

Post a Comment