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The US equities are still possessed by its Chinese counterpart meltdown

Discussion in 'Current Market Sentiments' started by fx-recommends, Jan 7, 2016.

  1. fx-recommends

    fx-recommends Content Contributor

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    SP-MAR 16 Daily 07-01-2016 07-45-49 ص.jpg
    1980 level which could withstand in the beginning selling day of the week failed to send SP-MAR16 higher than 2016.50 whereas it failed to get over its daily SMA100 forming another lower high to renew the downside pressure which drove the index to reach 1958.25 until now, after breaking another supporting level at 1959.88.

    As what has been exactly mentioned in the report of last Tuesday, SP-Mar16 has previously formed a lower high at 2074.65 on Dec. 30, after facing difficulty several times to keep a place above 2100 to be exposed now to downside extension more than before with higher probability of forming more lower highs.

    SP-Mar16 daily Stochastic Oscillator (5, 3, 3) which is sensitive to the volatility is having now its main line in the oversold region below 20 reading now 15.380 below its signal line which is still in the neutral territory reading now 22.959.


    Important levels: Daily SMA50 @ 2057.40, Daily SMA100 @ 2012.84 and Daily SMA200 @ 2052.81

    S&R:

    S1: 1936.63
    S2: 1882.38
    S3: 1870.63
    R1: 2016.50
    R2: 2074.65
    R3: 2095.25

    Have a good day

    Walid Salah El din
    Senior Market Analyst
    Skype : chief.economist.walid

    walid.s@trade-24.com
    Tel: UK. +44 1138590277
    Mob: EGY. +20 1224659143
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    http://www.trade-24.com/daily-analysis

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