The Dow and the general markets are still on the brink of breaking a daily downtrend line. It might also be forming a mini triangle in the daily charts as the markets fight it out between the bulls and the bears.
Dow is still trying to decide where it wants to go. It is surprising how resilient Dow is amidst the trade wars and so many tensions.
Right now, the support area and the 200 MA will be an important focus area. I believe that as long as Dow stays above the 200 MA and also the support area, then the bias will be for a move higher for the Dow. If Dow breaks below this area, then we will have more selling.
Notice how Dow is also forming a mini triangle.
It really is trying to fight it out between the bulls and the bears. A break above the mini triangle as well as the down trend line will be good for the bulls.
Dec 03, 18 08:16 AM
With an agreement to pause the trade war, Dow is about to jump 450 points higher, but will this rally sustain and go even higher? Lets take a look at the charts.
Nov 29, 18 07:51 AM
Yesterday we saw a huge big rally 600 ++ points. The question now is this rally sustainable and will we have a beautiful Christmas in the stock market this year. Here are a few things to look out for…
Nov 29, 18 07:35 AM
This sideways movement in the KLCI is really giving investors and traders a headache. What we are experiencing now is a volatility contraction which is often followed by volatility expansion.
Nov 26, 18 08:52 AM
As the techs reach an area of long term support, its going to be a choppy ride as the market decides whether support will hold or the downtrend continues...
Oct 30, 18 06:35 AM
As we close out the month of October 2018, what is in store for us? Let us take a look at the charts and see what they might be telling us.