We haven't traded below the 20EMA on a monthly closing basis since Jan of 2016. This Sep 2019 we almost did but thanks to the FM tax cut the market moved up. This month we are testing the 20 EMA again.
What does the EMA symbolize?
Why is it such a good support?
If we break below are we looking at further corrections of 10-15%
In Jan 2016 EMA was around 7800, we hit lows of 6800 before moving up.
What does the EMA symbolize?
Why is it such a good support?
If we break below are we looking at further corrections of 10-15%
In Jan 2016 EMA was around 7800, we hit lows of 6800 before moving up.
