Stock Screening

Tuesday, October 14, 2014

DJI reach bottom ?

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I been watching DJI index 3 weeks, the interesting part is right after Japanese formation evening star with bearish divergent at 12723, it drop until 16679 which show market rebound at this level(fib 61.8%), right after that it continue drop and break weekly support line till 16211, which is horizontal support line.

I am in downtrend and side way market bias right after it break the uptrend support line.
It is a  fact many ppls have fear about the drop  1000 point drop less than a months, what will happen next and it market crashed is coming on the way, personal I would say it too early yo say that, at the same time I don't want to too optimist about the dji or vice verse.
I anticipate the Dji most likely will bound back to

1st resistance 16616
2nd  resistance 16738
3rd  resistance 16873
last resistance 17024.

the above level is critical level as it will roadblock for DJI to climb and break. as of now, bear market should  could be pause for couple of days.

On the other hand, gold is key indicator to exterminate stock  market and currency market movement, gold also face the resistance point which is at 1240, my opinion is it will stop here and retrace back to 1205

KLSE index is ours bottom line, I believed not is risk sentiment and KLSE index or malaysia market are looking at how DJI behave, to me you may see a red sea for 1st half and I am anticipate second half or end of week should be rebound of overall counter.

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