Daily charts
- trend is down on daily charts
- today, markets opened with a severe gap down but recovered smartly
- initially down almost 4%, markets closed 1.3% negative and close was near day's high.
- final close was still below 8500... my key support now becoming resistance
- AD was negative
- overall candlestick pattern is very bullish and 8000 now becomes a very important support
- considering the volatility, I expect a lot of sideways movement within this large body candle
5 min charts
- severe volatility as markets open near deep supports (8000)
- fast recovery followed by wild swings
- I covered positional shorts in first 10-15 min, then went short again intraday around 8350
- booked around 8220... next short trade around 8350 whipsawed
- trend is down on daily charts
- today, markets opened with a severe gap down but recovered smartly
- initially down almost 4%, markets closed 1.3% negative and close was near day's high.
- final close was still below 8500... my key support now becoming resistance
- AD was negative
- overall candlestick pattern is very bullish and 8000 now becomes a very important support
- considering the volatility, I expect a lot of sideways movement within this large body candle
5 min charts
- severe volatility as markets open near deep supports (8000)
- fast recovery followed by wild swings
- I covered positional shorts in first 10-15 min, then went short again intraday around 8350
- booked around 8220... next short trade around 8350 whipsawed
