Bollinger band reading : bearish and oversold.
MACD Histrogram : dived deeper, seller turned aggresive.
Support : 1253, 1230 level.
Resistant : 1267, 1274, 1280 level.
Comment :
A black wide range bar candle for the 2nd day with even higher volume transacted! Seller turned into a fat rich cow in 2 days. Technically today's candle closed way below the lower Bollinger band can expand to showing that the selling activities are way overdone. Despite the just turned bearish daily chart reading, market seems need to take a rest before going down further. Expecting market to have a pullback correction soon before going down further or at least wait until the lower Bollinger band to do some catch up to match the price diving pace.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistant/strength/break down with larger cut loss and profit target.
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