as expected mkt is in a range, and i feel that the range is drifting dwn day by day. strategy is still to sell at highs, but i wont advice to carry shorts for too long. even a week is quite big these days.
the EMA & SMA lines are telling that mkt will take some more time to go south in a hurry. the SMA at Dwn turn shud b in an order. an order of 50-30-20-10-5, but at present this is in 50-10-5-30-20
such a lopsided move is showing only range, no definite direction. but the good thing is that 50SMA is on top, till its on top we are confirmed of a good dwnside.
a better pattern is shown in weekly charts. 50-30-10-20-5. much better as 10 is ready to cut 20 from top. but changing the parameters bit, we find that 20 & 13 weekly SMA is almost matching. thats again an indication of range.
regards
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