The intraday chart shows more details:
The weekly peak of 28000 has been taken and that's long-term buy signal. The confirmation for more careful traders (I am one) will be breaking the level of 29600. I think we can leave the symmetrical triangle conception (from this post) as for now and maybe draw another triangle with target price ca.30000.
What are our options now? We can search for single corporations (there are few promising stocks there) or invest in index (for example via UCW20AOPEN certificates). Be sure to always apply your risk management rules to size a trade and stick to your stoploss orders.
We still need to be careful - that's just one sign of trend reversal. Daily volume seems to confirm uptrend. If this is the real bottom there will be many opportunities to get into the market and we shouldn't try to catch the bottom.
Brian's advice in his daily video (here) is to stay defensive.
Posts
No comments:
Post a Comment