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Sunday, January 23, 2011

Dayang downtrend or sideway



















Observation
1) Trendline - Downtrend
2) HL - After hitting the High high at 3.1 and now retracing and watchout the previous higher low at 2.86. Below this it will confirm a big reversal and downtrend
3) MACD - Just beginning of bearish and there is a potential of reversal with 4R1G
4) RSI - Downtrend
5) ADX - Momentum low at 23, indicating sideway trend

Conclusion
Entry Level at 3
Cut Loss = 2.84
Take Profit = 3.1 and 3.2

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