Indeed, the Dow did recovered some of the last Friday panic losses to closed 76.71 higher at 9789.44. Daily chart wise, the Dow formed a doji bar candle that closed below the mid Bollinger band = bearish sentiment still haunted the market due to previous bailout market pain memory still fresh among traders. Bollinger band width turned narrow marginally = market tends to move side way range bound in ther near term. MACD Histrogram taken a small step lower = seller covering most of their position due to last Friday over done selling activities. Immediate support fall on around 9630 level. Overall, DJIA are like to trade side way downward biased. At the closed, Hang Seng index future is doing 130 point discount compare to the cash market and at last look major European market also traded negatively.
No comments:
Post a Comment