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Sunday, November 22, 2009

Dow bull but IHSG still side

Dow Jones Industrial chart

Check here

I told you before that Dow will from small Bear, it already happened. How I predict it?? It is very simple. -Look A line, when candlestick reach that line, always back down. A line it’s a good and strong resistance.

-Look B circle MACD (Technical line), distance between red line and blue line already wide, need to get closer again.

Now candlestick moved down into moving average 30 days. BUY when reach MA30, and set sell stop 5% below it.

Technical condition show BULLISH, why:

-Relative strength index still above 50% line

-Momentum 200 days also above momentum MA 200days.

-All moving average move up UP UP.


How about IHSG (Indonesia Stock Exchange):

IHSG chart

-Relative Strength index POOR


-All Moving Average 30, 40, 60 days, even Bollinger band show SIDEWAYS position.

-Only momentum 200days indicate bull trend.

Conclusion, IHSG still slow BULL in annual period because momentum 200days show that. But in monthly period still SIDEWAYS.

My suggestion buy but not will all your money, buy 50% and spend 50% again when IHSG move above 2530 point (BIG RESISTANCE).