This is daily chart of SIMSCI futures. It broke out from existing downtrend channel last Friday after a strong day. It is currently facing resistance soon.
Directional index has started ticking up after reaching oversold level. And trend index shows a same picture as well. Sentiment is improving though it is still remain negative.
It is likely to see rebound rally, though downtrend is still intact.
Sunday, June 18, 2006
Chart Eye: SIMSCI Futures : ended 16-June-2006
This is daily chart of SIMSCI futures. It broke out from existing downtrend channel last Friday after a strong day. It is currently facing resistance soon.
Directional index has started ticking up after reaching oversold level. And trend index shows a same picture as well. Sentiment is improving though it is still remain negative.
It is likely to see rebound rally, though downtrend is still intact.
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3 comments:
Interesting that the chart has done an island reversal. It looks very similar to STI are the indices related?
And this chart also shows a small double bottom formation (Breakout has been confirmed by heavy volumes).
dezuko1,
SIMSCI components are similar to STI.
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