The local index continues to move sideways in a tight range. We remain on the lookout for breaks of important levels and the development of discernable price patterns within the minor trend, i.e. (a) a break above 2956 or below 2712, or (b) a higher low.
TRENDS
* MAJOR UPTREND | Interrupted by a consolidation | Down swing | Prior support 2034 Jun-2006 | Potential support at trendline Prior resistance 3897 Oct-2007 | Potential Fibo resistance 3300
* INTERMEDIATE DOWNTREND | Corrective wave | Prior support 2712 | Prior resistance 3051 | Potential Fibo resistance 2900 | Broken trendline | MACD and RSI bullish divergence
* SHORT TERM DOWNTREND | Corrective wave | Prior support 2712 | Prior resistance 2956 | Broken trendline
PRICE AND TURNOVER
* Close: 2,872.45 * Change: -23.70(-0.82%) * Value: 1,740,143,000
MARKET BREADTH
* Net Advancing Issues: -37 * Net Up Volume: -46,958,710* Net Foreign Buying: -310,732,158
TRENDS
* MAJOR UPTREND | Interrupted by a consolidation | Down swing | Prior support 2034 Jun-2006 | Potential support at trendline Prior resistance 3897 Oct-2007 | Potential Fibo resistance 3300
* INTERMEDIATE DOWNTREND | Corrective wave | Prior support 2712 | Prior resistance 3051 | Potential Fibo resistance 2900 | Broken trendline | MACD and RSI bullish divergence
* SHORT TERM DOWNTREND | Corrective wave | Prior support 2712 | Prior resistance 2956 | Broken trendline
PRICE AND TURNOVER
* Close: 2,872.45 * Change: -23.70(-0.82%) * Value: 1,740,143,000
MARKET BREADTH
* Net Advancing Issues: -37 * Net Up Volume: -46,958,710* Net Foreign Buying: -310,732,158
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