The 75 and 200 60min MA have been the supportive factor intra-day. Once both MA slopes downward and price keeps distancing itself from the MA. We will know that markets are in bad shape.
MT: UP
ST: DOWN
PA: NA
Wednesday 7 May 2014
7 May 2014
What a wild ride we got today. The daily candle looks like a reversal candle, but that alone cannot be a gauge into a definite trend. Volatility is getting to be a daily occurrence, and we should be prepared for these events. For those long time bears, I do believe patience will pay off sooner than later. As far as the market is concerned, we have not entered a full recessive market (too early to tell). The ST still points downward, but if we don't see a whipsaw back down tomorrow, we might see a high possibility of a change in trend back up.
The 75 and 200 60min MA have been the supportive factor intra-day. Once both MA slopes downward and price keeps distancing itself from the MA. We will know that markets are in bad shape.
MT: UP
ST: DOWN
PA: NA
The 75 and 200 60min MA have been the supportive factor intra-day. Once both MA slopes downward and price keeps distancing itself from the MA. We will know that markets are in bad shape.
MT: UP
ST: DOWN
PA: NA
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