Will the Charts show the Direction ahead ?
1. The Moving Averages chart shows a resistance of 20 dema level ,It has not been crossed since first week of Jan. Keep an eye on the Price action here.Keep in mind the Bearish alignment of the averages and trading below 200dma.
2. The Medium term Trendline was broken earlier , Will this be a classic retest of the Trendline and downward journey again ? or Was this Breakdown a false one ? Check it out in coming days.
3. The Daily VIX chart has entered the Channel again , indicating low Volatility and hence rangebound trade.
4. The Weekly chart is showing the 'Kiss & Tell' story of 13w and 34w moving averages.They had a bullish cross in May'09 and since then have never been so close.Which way will they part after kissing ,Up(Fast rise) or Down(Bearish cross)?
We will keep an 'eye' on them