I wouldn't suggest buying for at least today. I see this market at the 4000 to 4100 level before the end of today. All these spike ups you're seeing sets the market to go and make new lows. Follow the wave and you'll see that it's risky business buying this market till this correction is over and I feel it would take up to 2 weeks. We'll be seeing between 3200 to 2900 soon.
I won't advice anybody to buy or short.
I'll say save your funds till when the market shows a buy signal at least on the 4hr chart. The 1mins to 1hr chart at this point us useless as all the moving averages on them have been taken out. We are trading below them and that's a clear downtrend.
I won't advice anybody to buy or short.
I'll say save your funds till when the market shows a buy signal at least on the 4hr chart. The 1mins to 1hr chart at this point us useless as all the moving averages on them have been taken out. We are trading below them and that's a clear downtrend.