For the week starting 11th Aug 2014
Trend : Bearish,
Power: Low
Stoploss levels: 7644, 7686, 7720
Support levels: 7500,
Index closed below 50 SMA for the first time since Feb'14. We need to see 2 more close below 50 SMA for final conformation of it being resistance.
The 4 HR chart has still not indicated a powerful bearish trend as candle close below lower band and RMA minor break of 40 are missing.
Looking at Trend changing dates we have 8th to 11th as cluster.
Lets see if we can expect some reversal on Monday and how long it can last.
Trend : Bearish,
Power: Low
Stoploss levels: 7644, 7686, 7720
Support levels: 7500,
Index closed below 50 SMA for the first time since Feb'14. We need to see 2 more close below 50 SMA for final conformation of it being resistance.
The 4 HR chart has still not indicated a powerful bearish trend as candle close below lower band and RMA minor break of 40 are missing.
Looking at Trend changing dates we have 8th to 11th as cluster.
Lets see if we can expect some reversal on Monday and how long it can last.
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