S50 is getting unsure what to do nextEven though S50 broke to the south through a long term support, with weekly ema150, the force of nature took the price back and held it above, waiting for next week to start.
If looking back to middle of January there are some great similarity's, with then and now. So by looking at the history of the graph, one could expect that the bears will take over the lead for a while.
Because of this, I'd not go Long at this point, although am open to go Short intraday, after a pullback .
I'd love it if an bullish reversal pattern would come around 940-945, to step back being more genuine bullish.
S50
Has the air ran out from SET?After a strong bullish run, SET managed to close with bearish candle that engulfed the larger indecision candle from the trading day before.
I would have been calmer if SET50 and S50 would have followed its sister, but they have not had a close over the June highs.
So let's ask us the question; is this the end of x-mas / Covid vaccine rally and time for a lager correction?
Well if the 1450 support doesn't hold, the gap support and fib.618 might very well be a good area to find new buyers. Although, I personally, would feel more at ease if SET went all the way down to fib.50, to find new buyers, so investors can get a healthy northern ride, with nice slow higher highs and higher lows.