XU100 trade ideas
bist100 is showing topping signs (collapse is possible )in spite this index has respected 100d SMA until now, meaningful divergence in RSI is visible in weekly time frame.
there are a lot of leaders that are showing stage 3 and some of them are moving towards stage 4 (declining)
no one can predict the market .
but , a big collapse in BIST100 is possible.
I don't sell(short selling) in this situation . But I am going to be cash in this market for now.
Critical Support Zones For XU100I have depicted the critical support zones for the main XU100 index. Personally, I have no comment neither idea which one to hold.
Yet, one should consider the current inflation in Turkey and the trend that is just broken was really really strong with the largest help coming from the banks.
I will be 50% cash waiting for signals of strength in BIST last weekend correction in Turkey stock market was not only limited to the Indexes.
all the market made a deep correction.
overall market has lost its 10 days SMA.
the next possible support zone can be 2300-2400 in BIST 100 that is a strong support and in coincidence with 20D SMA