Sensex rally since 3rd of November looks more corrective than impulsive
The rally looks to have consumed too much of energy and is ready for exhaustion! It is like more and more fuel is consumed but the speed is constantly reducing
Look at MACD - momentum has lost considerable energy!
A break below 16500 will provide a good confirmation and this time we are expecting shorts to be richly rewarded
By trapping the bears again this time on Dubai news Mr. Market has succeeded turning even more number of bears into bulls who are the final participants in the rally before an intermediate down trend
A move above 17500 will warrant for an alternative count - 3rd of 5th wave to start and prices shall rally fast after that - A low probable scenario, in midst of weakening global commodity markets - Oil, Gold and strong US dollar
The rally looks to have consumed too much of energy and is ready for exhaustion! It is like more and more fuel is consumed but the speed is constantly reducing
Look at MACD - momentum has lost considerable energy!
A break below 16500 will provide a good confirmation and this time we are expecting shorts to be richly rewarded
By trapping the bears again this time on Dubai news Mr. Market has succeeded turning even more number of bears into bulls who are the final participants in the rally before an intermediate down trend
A move above 17500 will warrant for an alternative count - 3rd of 5th wave to start and prices shall rally fast after that - A low probable scenario, in midst of weakening global commodity markets - Oil, Gold and strong US dollar
Inverted Chart
Inverted Chart: This is what we would like to see when the markets are ready to rally in upward direction but beware this is a mirror image -- indicating the opposite!
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