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MSCI Taiwan Index Technical Analysis 2016, 10.04 - 17.04: within 100/200 SMA ranging area waiting for direction

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mql5
, 04-11-2016 at 05:06 AM (1005 Views)
      
   
Daily price is located in the ranging area between 100-day SMA and 200-day SMA waiting for direction of the trend.

  • If the price will break 326.50 resistance level so the price will be reversed to the primary bullish market condition.
  • If price will break 306.30 support so the bearish trend will be started.
  • If not so the price will be ranging within the levels.

Resistance
Support
326.50 306.30
331.00 289.50
Name: msci-taiwan-d1-gci-financial.png Views: 107 Size: 23.5 KB

  • Recommendation to go short: watch the price to break 306.30 support level for possible sell trade
  • Recommendation to go long: watch the price to break 326.50 resistance level for possible buy trade
  • Trading Summary: ranging

SUMMARY : ranging

TREND : waiting for direction

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