hi all members,
please have a look at the attached chart.
Bear flag developing , rsi ( 7 ) divergence on way, market near the lower trend line of bear flag.
if the lower trendline of bear flag is not break, market can continue to surprise traders , but it seems probable that flag is near to break.
Following the break , there would be not long downtrend , but yaaa volatility and few weeks less negative market . Have marked imp support levels .
12600 - 12700 , 12000-12100 , 11400-11450
Also can test 55 EMA.
Final outlook: go underground when bear flag is breaked and plan re - entry only when volatility diminishes and you get buy signals after test of imp. supports.
experts , please coment.
cheers,
winston
please have a look at the attached chart.
Bear flag developing , rsi ( 7 ) divergence on way, market near the lower trend line of bear flag.
if the lower trendline of bear flag is not break, market can continue to surprise traders , but it seems probable that flag is near to break.
Following the break , there would be not long downtrend , but yaaa volatility and few weeks less negative market . Have marked imp support levels .
12600 - 12700 , 12000-12100 , 11400-11450
Also can test 55 EMA.
Final outlook: go underground when bear flag is breaked and plan re - entry only when volatility diminishes and you get buy signals after test of imp. supports.
experts , please coment.
cheers,
winston
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