Almost all the markets going in red will be a major factor on Monday. Market has been moving up but the momentum was dying since last few days. Here is a comparison chart with Nasdaq. It is amazing to look how the indices made similar moves around similar times. In short, 10% correction is quite possible in near short term. This view goes along with other stock market gurus worldwide who are experts in their respective markets. Few Points to support this are here:
1. Weekly RSI is approaching over sold stage and we have peaked RSI on daily charts are making lower highs with a strong down move.
2. 45000 has not been retested.
3. MACD showing bearish cross on daily chart.
4. Indices closing in red.
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1. Weekly RSI is approaching over sold stage and we have peaked RSI on daily charts are making lower highs with a strong down move.
2. 45000 has not been retested.
3. MACD showing bearish cross on daily chart.
4. Indices closing in red.
For faster updates on trading ideas feel free to message me.