Hello my subscribers,
- I hope that all of you are fine. Within two weeks of April, VNINDEX dropped 17.40%, from 1536 to 1317. This movement is as nightmare for investors and traders. "What next ?". I believe that downtrend is slowing dow and turn to accumulation period because of these reasons:
1. RSI is under 30, it reflects that price is now in oversold area and it will be adjusted very soon.
2. Price is dropping to strong local support, from 120x-121x. Here, price's reaction will happen strongly.
- Next movement:
After dropping to 120x - 121x, reaction movement will running, price bounced back 141x - strong resistance in the past. If price can stand, uptrend movement will occur and price towards to higher level (1600-1700). But if price can not overcome 141x, a drop to deeper bottom (99x) will happen.
Either situations, price will retest 120x-121x. Please keep patient and observe carefully price's action here.
Feel free to leave ur comments and questions
- I hope that all of you are fine. Within two weeks of April, VNINDEX dropped 17.40%, from 1536 to 1317. This movement is as nightmare for investors and traders. "What next ?". I believe that downtrend is slowing dow and turn to accumulation period because of these reasons:
1. RSI is under 30, it reflects that price is now in oversold area and it will be adjusted very soon.
2. Price is dropping to strong local support, from 120x-121x. Here, price's reaction will happen strongly.
- Next movement:
After dropping to 120x - 121x, reaction movement will running, price bounced back 141x - strong resistance in the past. If price can stand, uptrend movement will occur and price towards to higher level (1600-1700). But if price can not overcome 141x, a drop to deeper bottom (99x) will happen.
Either situations, price will retest 120x-121x. Please keep patient and observe carefully price's action here.
Feel free to leave ur comments and questions