Mid Cap : Is it an early signal for broad bearish trend ?
מעודכן
CNX Mid cap Index is consolidating in 18500-16000 range. Falling trendline should provide resistance at the upper level. H&S pattern is clearly visible on daily and weekly chart which is also supported by death cross (50 DEMA below 200 DEMA). Target of H&S is 13300 but we can see visible support at 13600 (arrow). ADX is showing mixed trend for market as both +DI &-DI are reading at 30-31. Trader should treat this bounce as continuation of sideways to downward trend. Reversal from downward trend will be only on close above 18500.
Any bounce towards 17700-18000 range should be used to create short with stop loss of 18500(daily closing) for target of 13600. Support is at 16200.
Any bounce towards 17700-18000 range should be used to create short with stop loss of 18500(daily closing) for target of 13600. Support is at 16200.
עסקה פעילה
As told, index bounced close to 18000 in yesterday's session and then fell to 17300. Our view to short is still same.
כתב ויתור
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