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Friday, February 21, 2020

Week 08-2020 Closing Notes

We do not have much to iterate other than our previous remarks on support and resistance. Index is expected to remain unstable until it makes a cleat break above its resistance or below its support to settle down with healthy accumulation.

Support : 39800-39500-38800 +/- 100
Pivot :40600-40900 +/- 100
Resistance : 54650 - 41900  +/- 100

WoW basis, market cap has continued to lose value although current week losses are lower than out going week. Overall, it suggest that market is approaching its bottom exhaustion and fresh buying interest may trigger soon. 

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