20090323

Today's rally was impressive (+3.18%):

wig_20090323

Positive divergences, rising volume, breaking Fibo 61.8% and opening gap are encouraging signs. Nevertheless, we have to remember the market is still bearish.

Presented strategy is not the bottom picker and we cannot say the trend is reversed before breaking 29000 (high from 7th Jan).

However, breaking the 24700 will generate buy signal (weekly high from 2nd Feb). Depending on one's profile, it might be good idea to place few small speculative positions (which is subjective as there is no reliable technical sign of trend reversal), but only if the WIG Index keeps above 24700 for at least few sessions.

No comments:

Post a Comment