Technical View:
1.Market closed slightly lower after tighter range
2.Stochastic K% line having mixed signal as weekly chart showed K% line crossing down indicates sell signal, while daily chart crossing up which indicates buy signal.
We expect market will bounce before continue its downtrend with immediate support level at 6050.
Suggestion Trade:
Short if stay below 6000
Target Stop Loss (resistance level) 6182
Target Profit level (support level)
TP1 5818 TP2 5453
Long if stay above 6400
Target Stop Loss (support level) 6218
Target Profit level (resistance level)
TP1 6582 TP2 6947
** DISCLAIMER: FOR INFO ONLY. TRADING CARRIES RISK **
1.Market closed slightly lower after tighter range
2.Stochastic K% line having mixed signal as weekly chart showed K% line crossing down indicates sell signal, while daily chart crossing up which indicates buy signal.
We expect market will bounce before continue its downtrend with immediate support level at 6050.
Suggestion Trade:
Short if stay below 6000
Target Stop Loss (resistance level) 6182
Target Profit level (support level)
TP1 5818 TP2 5453
Long if stay above 6400
Target Stop Loss (support level) 6218
Target Profit level (resistance level)
TP1 6582 TP2 6947
** DISCLAIMER: FOR INFO ONLY. TRADING CARRIES RISK **