Local sentiment remained cautious though most regional markets had regained strength after the sharp fall. The Intraday Sentiment Oscillator lost strength after the opening but ended off low at +142.75; lost 13.45 when compares with its opening point. The Average recorded a gain of 117.71.In MSCD, %K (Yellow) computed as -130.45 (+45.10), %D (Red) -192.34 (+24.81), %A (Pink) -216.60 (+12.16) and the Histogram +43.02 (+4.72).
After today’s trade, all line indicators moved higher and the Histogram printed another higher positive bar.
Again, the last hour buying gave strong support to the weak sentiment. %K is going to break out from the downtrend wedge and record its second higher-high. Until then, we can only consider market has fully recovered from the recent slaughter.
However, due to the low volume, market can only be categorized as an obscure market waiting for more participation.
(Note: Explanation on Intra-Day MSO and MSCD are archived under "Labels" at the sidebar.)
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