Daily Data for Wednesday 13 August 2019 In Bear Territory Price Projection: 8104 HMA: Bear/Cover Short BSI: Bearish Bull RSI: Neutral Bear RSI: Neutral 5 RSI: Positive Consolidation: 8065 - 7833 (re-established) Price- Trend: .1x ATR
The prices closed in a zone of indecisiveness - this generally suggests covering shorts as it waits for renewed strength to build. In this area, while in consolidation, no more triggers will be acknowledged until the consolidation is broken. The consolidation zone is very tight for this index. SO we will not have to wait long as the ATR (Average Trade Range) is ~109/day.
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