ASI Daily
This chart and analysis are not financial advice. Do your own research before trading or investing.
1. The range of the HnS in lying in level of 11522, which is about 200 points above the next support level.
2. The current support which is 11650-11750 may make a confluence zone with the descending widening wedge support line.
3. RSI is reaching the oversold zone and the MACD is showing reversal. But by changing the MACD oscillator to SMA, instead of EMA the picture will be a bit different.
4. The question remains, will the current support hold or will the index move further to the extreme level of 11300 as some techies predict?
Patterns within patterns
HnS - Bearish
Descending broadening wedge - Bullish
Descending wedge - Bullish
Now we need to monitor what will happen in the future.
1. The range of the HnS in lying in level of 11522, which is about 200 points above the next support level.
2. The current support which is 11650-11750 may make a confluence zone with the descending widening wedge support line.
3. RSI is reaching the oversold zone and the MACD is showing reversal. But by changing the MACD oscillator to SMA, instead of EMA the picture will be a bit different.
4. The question remains, will the current support hold or will the index move further to the extreme level of 11300 as some techies predict?
Patterns within patterns
HnS - Bearish
Descending broadening wedge - Bullish
Descending wedge - Bullish
Now we need to monitor what will happen in the future.
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