VNINDEX - CONFUSING SITUATION.
- Happy weekend Vietnamsese traders.
- This week is certainly difficult time, VNINDEX drops sharply, from 1508 to 1427. As a direct result, almost of other stocks make adjustment. Now, VNINDEX have a relief bounce toward local resistance 1508. I sure that you are in the situation confusing, whether uptrend really came back or just dead cat bounce.
- I never try to guess market's trend. Instead, I focus on detecting best actions that fix into current market's condition.
- Take a look VNINDEX's chart. My indicators give us two situations:
+ Situation 1: Price bounces back to 1508, react strongly here, then retests 1480. If 1480 can stand, price will toward to local top 1533 and higher levels.
+ Situation 2: 1480 can not be hold, deeper support (1409) will come.
Either situation, 1480 also is key level. Please wait for retesting this level completely, then make your next decision.
- This week is certainly difficult time, VNINDEX drops sharply, from 1508 to 1427. As a direct result, almost of other stocks make adjustment. Now, VNINDEX have a relief bounce toward local resistance 1508. I sure that you are in the situation confusing, whether uptrend really came back or just dead cat bounce.
- I never try to guess market's trend. Instead, I focus on detecting best actions that fix into current market's condition.
- Take a look VNINDEX's chart. My indicators give us two situations:
+ Situation 1: Price bounces back to 1508, react strongly here, then retests 1480. If 1480 can stand, price will toward to local top 1533 and higher levels.
+ Situation 2: 1480 can not be hold, deeper support (1409) will come.
Either situation, 1480 also is key level. Please wait for retesting this level completely, then make your next decision.
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