Sunday, August 9, 2015

Weekly Market Review K200

Daily : Downtrend.  Lower High Lower Low.  
  • K200 ended slightly lower than previous low, in fact, lower than previous previous low 239.09 in January 2015.  These 239-240 has been a strong support area in the past 1.5-2 years.  We have a small pin bar on Friday.  Thus, the next bars are important to see if this level holds.
  • MACD are still heading down.  

Weekly :Sideway.  Short-term Downtrend.
  • This week bar is a bullish bar, resting just around the 239-240 support area.
  • MACD continues to head down and widening.  
  • Weekly remains bearish.

Monthly : Sideway.  
  • 240 support is broken.  Next support 230.  This new month bar is bearish for now.  Until we get a positive sign, it is still short-term downtrend.  

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