[b]Disclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in any stock exchanges, Indices, Stocks, Forex, Crypto etc.
ASI -
ASI on 02/05/2023
01. ASI lost the supporting trend line 01 which used to be a bouncing point in few occasions.
02. Current resistance zone 8840-9000 was a strong support in past and it was breached. FIB level 0.382 was in confluence with this zone.
03. Index closed below 200 MA. Closing below long-term MA is a strong bearish sign.
04. The pattern inverse CnH is also in play. Theoretically, According to that pattern support zone 8500-8600 is a level to consider.
ASI on 02/05/2023
01. The support zone 8500-8600 is the next zone what we can hope to see some relief. FIB 0.5 level is also adjacent to this zone.
02. With this zone the next important supporting trendline 02 is there. In past this was a line where major bounce backs happened.
03. Index closed below 200 MA. Closing below long-term MA is a strong bearish sign.
04. If above conditions breached we will be looking at support zone 8200-8300 with the GOLDEN POCKET.
05. RSI is at a overbought area. When we check the past this, when index reached this zone it made major or minor upward movements.
ASI - ASI on 02/05/2023
01. ASI lost the supporting trend line 01 which used to be a bouncing point in few occasions.
02. Current resistance zone 8840-9000 was a strong support in past and it was breached. FIB level 0.382 was in confluence with this zone.
03. Index closed below 200 MA. Closing below long-term MA is a strong bearish sign.
04. The pattern inverse CnH is also in play. Theoretically, According to that pattern support zone 8500-8600 is a level to consider.
ASI on 02/05/2023
01. The support zone 8500-8600 is the next zone what we can hope to see some relief. FIB 0.5 level is also adjacent to this zone.
02. With this zone the next important supporting trendline 02 is there. In past this was a line where major bounce backs happened.
03. Index closed below 200 MA. Closing below long-term MA is a strong bearish sign.
04. If above conditions breached we will be looking at support zone 8200-8300 with the GOLDEN POCKET.
05. RSI is at a overbought area. When we check the past this, when index reached this zone it made major or minor upward movements.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.