The selling interest have repeatedly run out of steam below 50-DMA since January 31.
We did have a daily close below 50-DMA on Feb 17, but that didn’t work out. So why would it work this time…?
Check out the DMI indicator. We have a bearish crossover, which didn’t exist on Feb 17. Furthermore, talk of Scottish referendum is gathering pace.
Thus, a daily close below 50-DMA could yield a sell-off to 1.2121 (lower bollinger band).
We did have a daily close below 50-DMA on Feb 17, but that didn’t work out. So why would it work this time…?
Check out the DMI indicator. We have a bearish crossover, which didn’t exist on Feb 17. Furthermore, talk of Scottish referendum is gathering pace.
Thus, a daily close below 50-DMA could yield a sell-off to 1.2121 (lower bollinger band).
