Firstly, we got a nice rally from the lows. We timed the 1000 pt jump to almost perfection. But our indicators are not behaving well. We are very cautious here. We are not out of the woods as yet. We ideally wanted to see today's low taken out or retested.
Consequently, there may be another round of selling or we want some proof that the rally can unfold in fives and not 3's, implying we want to observe the market for some more time. If it unfolds in threes, we have some more ways on the downside. Our target is around 815 and/or 768 or so, should it occur. Lets see
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment