January 5, 2016

Market outlook

On daily charts,
- faster move in opposite direction hints at trend reversal
- H&S pattern visible with neckline at 8000; right shoulder being formed
- breakout above 8000 will be bullish
- today, markets closed flat. AD was positive
- option writing support around 7500 resistance 8200

On hourly charts,
- trend is down on hourly charts
- holding above 7850 F will be bullish

On 5 min charts,
- markets rangebound the whole day
- did nothing today

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