Indicators
1 ) Trendline - Broke below the uptrend line .. ( Bearish )
2) Support/Resistance - Broke below the previous low ( Bearish )
3) MACD -Bearish Crossover with MACD 4G6R ( Bearish ) . Awaiting for 4R1G signal
4) RSI - Broken below 30% (Bearish) ,
5) STO - Broke below 20% and bearish crossover (Bearish)
6) Ichimoku - a) Price coming meeting from the support cloud (Bearish).
b) Conversion line below the base line (Bearish).
c) Price close below the baseline ( Bearish) .
7) Candlestick pattern - Black Candle (Bearish).
8) Market Sentiment - Negative from USA 600B Fiscal Worries
Refer link
Conclusion:
Bearish
Diving deeper and deeper and approaching the support cloud. If break below and under the support cloud ( 1621 ) will clear indicate a correction.. unless recovery of global sentiment intercept the bearish attack.
Resistance- 1649 / 1668 /1681 /1725
Support - 1621 / 1600 / 1594 / 1581
Fasterom
Yes definitely correction on the ways. In homeland uncertainty - GE 13 etc might prevent the market up further. Anyway it might good for us to reposition or collect more...
2012-11-13 18:40