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DOW has not been able to manage past our much awaited mark 9000 as it is facing stiff resistance from 8800 levels. As shown in the chart below, its 200dma has somehow drifted lower and the index giving closes well above this moving average is a positive signal.
But the moving averages are still far [...]
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This index has been trading witnin a narrow range for about two weeks now. It didn’t make much effort to breach its 200dma and looks as if this moving average bowed down and moved below the range itself.
Moving averages trying to converge is a positive sign. The RSI, though flat is in the bullish [...]
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FTSE100 seems to have stuck between 4520 and 4300 levels. This index has been forming a flag shaped pattern which is not a negative signal. Now, it would depend on which limit would it penetrate, 4520 on the upside or 4300 on the downside.
Daily chart: Quote.com
Favoured view is that it could penetrate [...]
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Monthly chart of Hangseng for a long term view.
The horizontal lines above depict its main hurdles, the first one of which has not been surpassed decisively. It is still hankering around 18800 levels, its 38% retracement.
Combining the view from other world markets, here also the dullness has set in as it trades between a range [...]
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