November 29, 2016

Market outlook

Daily charts
- trend is down on daily charts
- today, markets traded firm initially but closed flat
- pattern formed: inverted hammer/ shooting star
- advance decline was positive, VIX negative
- option writing support 8000 resistance 8300




5 min charts
- first bar was buy signal (breakout above yesterday's high)
- markets became rangebound between 8200-8220 F
- exit on break of range


No comments:

Post a Comment

Share this...