- AO indicator shows no divergence yet, so we may expect one more impulse to complete a local 5 wave cycle.
- Stoch RSI showing overbought indicates a possible decline in demand.
- There´s an strong support at 6200 level, so we may expect bounce there.
So for short term i´m shorting and waiting to see what happen at 6200 level.
If bounce happens and volume keeps low at bounce level, then i´ll go long.
For falling wedge confirmation, we need to see an increase in volume.
Good Luck to all!
- Stoch RSI showing overbought indicates a possible decline in demand.
- There´s an strong support at 6200 level, so we may expect bounce there.
So for short term i´m shorting and waiting to see what happen at 6200 level.
If bounce happens and volume keeps low at bounce level, then i´ll go long.
For falling wedge confirmation, we need to see an increase in volume.
Good Luck to all!