S50Z2020 Highest Close Since Early June
S50 stopped at an interesting place this Friday, at a secondary falling resistance and support, I just love when the price knows the technical game book.
Since the pennant pattern was broken, the volume speaks for an absence of interest and the probability for a false breakout is higher.
Even so, will S50’s lack of interest still takes it a bit higher, to start and consolidate around the 970 resistance and support. And from there, start to show some interest with higher highs and higher lows or will the air leak out and testing the support and resistance area, somewhere around 850-900?
Since the market sentiment, last month or so, is mostly driven by Covid vaccination news, and any “old”-normal it can bring back to us, so will any news come to push S50 –and the broader market— in any direction, or is it time for the market itself to show any strength/weakness?
Before I’ll end this analysis, I have to mention SET and that it is playing tricks with its bigger brother, the SET50 and the its connected futures that I am analyzing today.
So will SET continue to be wearing the leader jacket or will the close, it did on the resistance at 1450 act like a BIG stop sign?!
Since the pennant pattern was broken, the volume speaks for an absence of interest and the probability for a false breakout is higher.
Even so, will S50’s lack of interest still takes it a bit higher, to start and consolidate around the 970 resistance and support. And from there, start to show some interest with higher highs and higher lows or will the air leak out and testing the support and resistance area, somewhere around 850-900?
Since the market sentiment, last month or so, is mostly driven by Covid vaccination news, and any “old”-normal it can bring back to us, so will any news come to push S50 –and the broader market— in any direction, or is it time for the market itself to show any strength/weakness?
Before I’ll end this analysis, I have to mention SET and that it is playing tricks with its bigger brother, the SET50 and the its connected futures that I am analyzing today.
So will SET continue to be wearing the leader jacket or will the close, it did on the resistance at 1450 act like a BIG stop sign?!
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