Weekly Market Updates: WW14



Posted by lionel319 @ Sun 06 Apr, 08, 09:17AM under Weekly Market Updates









The market is repeating history,
The Blue Ascending Triangle is twin as the previous Red Ascending Triangle, and now, it is again testing the resistance at 12750.

Will it break thru the resistance this time and stage a huge bull? I'm not sure.

The market is telling us that it is still very uncertain to as what it wanna do based on the past 3 days of uncertainties looking at the clues given by the 3 doji.

From my personal point of view, the market might pullback to the recent blue ascending support at around 12400, and if it does, then it all depends on how the market will perform from then on.

If the blue ascending support line manage to hold as a strong support and bounce the market up again, we can then hope for the market to penetrate thru the 12750 and a bull will be waiting for us, but if all fails, and the support can't hold, then I'll be very worry about it. I don't know. 2 failure to breakthru on 2 consecutive occasion on 2 ascending triangle, doesn't look optimistic to me.




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