- K200 ended its retracement or short-term uptrend move. Lower High established. We need to see if a Lower Low established to confirm and continue the downtrend move.
- K200 is back to the 1st downtrend line, into the downtrend channel.
- 244.0 could be a good support.
- MACD has crossed down again. However, the down move momentum is losing strength as the histogram is getting smaller and the MACD line is getting higher. The MACD divergence at the lowest might still be valid.
Weekly :Sideway. Short-term Downtrend.
- K200 had a series of small lower high lower low. Short-term downtrend continues.
- However, on a slightly bigger picture, it has a Higher High established around 275 and a Higher Low (potential) established at 241.49. If that is the Higher Low, then we might have a uptrend move in the pipe line.
- On a big picture, it is similar to Monthly chart sideway market.
- MACD continues to head down and widening.
- Weekly remains bearish.
Monthly : Sideway. Short-term Downtrend
- Short-term is downtrend. Big picture is sideway. The crucial support 240 and 230 will determine if we still have sideway market.
No comments:
Post a Comment