It was said (4th Aug) “expect a range trading in 12.8k-13.6k, before heading higher; stop 12.7k”.
Since then, Nikkei remained stuck in the range of 12893-13468. In the meanwhile, lack of follow-through buying near 13.4-13.5k created weakening structure.
The signs of some fatigue are however visible and we could see few days of battle within the ‘same’ rage before the decisive breakout in the either direction, mostly downward.
August 18, 2008
Slipping into bears hand...?
Nikkei 12991
Negative < 13.3K.Stop 13.6K (cl)
It was said (4th Aug) “expect a range trading in 12.8k-13.6k, before heading higher; stop 12.7k”.
Since then, Nikkei remained stuck in the range of 12893-13468. In the meanwhile, lack of follow-through buying near 13.4-13.5k created weakening structure.
The signs of some fatigue are however visible and we could see few days of battle within the ‘same’ rage before the decisive breakout in the either direction, mostly downward.
It was said (4th Aug) “expect a range trading in 12.8k-13.6k, before heading higher; stop 12.7k”.
Since then, Nikkei remained stuck in the range of 12893-13468. In the meanwhile, lack of follow-through buying near 13.4-13.5k created weakening structure.
The signs of some fatigue are however visible and we could see few days of battle within the ‘same’ rage before the decisive breakout in the either direction, mostly downward.
