Hi,
Wow... Markets did make highs 5939-5938, but never managed to close beyond 5934 Resis. So acting as a stiff resistance on closing basis, markets did trade low on Fri (21/12/2012) testing the supp level of 5840.... The MACD indicator did give a -ve divergence, but we may expect markets to bounce from lows (one of the indicator shows mkts bouncing back if opened gap-down. However market closing below 5820 will have more downside.
Resis - 5918 / 5924 / 5934
Supp - 5825 / 5816 / 5764
Please note that these are short-term hiccups in markets, but market overall in uptrend. Keep in mind my 16th & 18th Dec overall view of the markets
P.S. I re-iterate that these calls are majorly only on basis of technical charting and I do not follow news for reason why the upside or downside could happen...
Wow... Markets did make highs 5939-5938, but never managed to close beyond 5934 Resis. So acting as a stiff resistance on closing basis, markets did trade low on Fri (21/12/2012) testing the supp level of 5840.... The MACD indicator did give a -ve divergence, but we may expect markets to bounce from lows (one of the indicator shows mkts bouncing back if opened gap-down. However market closing below 5820 will have more downside.
Resis - 5918 / 5924 / 5934
Supp - 5825 / 5816 / 5764
Please note that these are short-term hiccups in markets, but market overall in uptrend. Keep in mind my 16th & 18th Dec overall view of the markets
P.S. I re-iterate that these calls are majorly only on basis of technical charting and I do not follow news for reason why the upside or downside could happen...
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