Constructed and Written by Smartbiz
Local sentiment hit by renewed worry of European debt crisis progressed in sorrow mood, today. The Oscillator opened deep in the red and slid further to end off low at -1,045.57; lost 255.54 when compares with its opening point. The Average recorded a loss of 1,062.00. 
In MSCD, %K (Yellow) computed as -119.58 (-171.29), %D (Red) -64.58 (-79.82) and the Histogram +35.51 (-22.63).
Technical Analysis
After today’s trade, both indicators fell sharply into the red and the Histogram printed another shorter bar but remains in the positive zone. Market sentiment turned sour as regional markets reversed into cautiousness.
The fact that both %K and %D fell sharply into the red is a sign that investors were panicked and support has temporarily subsided. Based on chart readings, the support-line of the uptrend channel will inevitably be challenged but should remain resilient.
(Note: Explanation for Intra-Day MSO and MSCD are archived under "Labels" at the lower portion of the sidebar.)
No comments:
Post a Comment