Index gaps up, creating a Shooting Star

Our index jump out of the channel leaving a gap. Will it return to fill it? Our resistance is now our newly found support with a backup from 50% Fibonacci Retracement level while resistance at 38.2% Our candlestick today is a Shooting Star which suggest that is a bearish bias. But this needs to be confirmed via a long red candlestick or gap down. In the absence of the confirmation index may continue to go up. Are we going to reach 6,800 soon?

Caveat!

One Response to Index gaps up, creating a Shooting Star

  1. […] index slowly retraces after we saw a Shooting Star last Sept 19. Observe also how the slope support the price not to drop right away to fill the gap. Today, we are […]

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