On this 15 minute chart, we can see we've dipped below important moving averages , and got turned at resistance trendlines.
We now have to get back above 11430, and stay above 11125, in order for this uptrend to remain intact.
Personally, given the look of the 4h, daily and weekly oscillators, I think we are still headed lower - but if this current support holds, we could make quite a bounce (13k, 14k) before going lower.
We now have to get back above 11430, and stay above 11125, in order for this uptrend to remain intact.
Personally, given the look of the 4h, daily and weekly oscillators, I think we are still headed lower - but if this current support holds, we could make quite a bounce (13k, 14k) before going lower.
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On this 5 minute, we can see the difference between a nice strong bounce and a dead cat.
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That is not the kind of healthy springy reaction you want to see from your support levels.
