SINO at 38.2% Fibonacci Retracement level

SINO is currently at the support area of 38.2% Fibonacci Retracement level after we saw the Dark Cloud Cover few days ago. If the bulls will not be able to reverse the tide, SINO may continue to dip and bring the price to piso where the Kijun Sen line is waiting. As long as this line is moving horizontally, the threat will be there. The gaps below is also a threat to the bulls.

RSI or Relative Strength Index is at 76

Caveat!

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felix

A computer engineer by profession and loves to develop online systems/websites. A self-taught stock trader who loves to share his knowledge and enjoys learning, expanding knowledge and staying well-informed. Most often he uses candlesticks, Fibonacci Retracement levels, Ichimoku system on his technical analysis but loves to hear some rumors as well.

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