India’s Sensex continues to meet resistance at 29000. Twiggs Money Flow now displays a mild bearish divergence. Breakout above 29000 would find resistance at the 2015 high of 30000 which may prove stubborn. Reversal below 28000 is less likely but would warn of another test of primary support at 26000.
India’s Sensex is again testing resistance at 29000, while rising Twiggs Money Flow indicates medium-term buying pressure. Breakout would offer a target of 32000* but the index will first have to overcome strong resistance at its 2015 high of 30000.
* Target: 29000 + ( 29000 – 26000 ) = 32000
India’s Sensex is running into resistance at 29000, with last week’s doji candlestick indicating indecision. Twiggs Money Flow recovered above zero but has since leveled off. Breakout above 29000 would find long-term resistance at 30000 which may prove to be stubborn. Reversal below 28000 would warn of another correction to test support at 26000.
India’s Sensex rallied off support at 26000, but Twiggs Money Flow still warns of selling pressure. Breach of 26000 would indicate a test of 25000.
India’s Sensex found support at 26000, this week’s long tail suggesting buying pressure. Declining Twiggs Money Flow still signals selling pressure, however, and breach of 26000 would indicate a test of 25000.
Support levels are fairly weak all the way down to 23000 because of the absence of strong corrections during the March to September 2016 advance.
Last week’s rally exhausted itself and India’s Sensex is again testing support at 26000. Decline of Money Flow below zero reflects selling pressure. Breach of 26000 is likely and would indicate a test of 25000. Support levels are fairly weak all the way down to 23000 because of the absence of strong corrections during the March to September 2016 advance.
India’s Sensex broke support at 27600, after breaking below its trend channel, warning of a correction to 26000. Bearish divergence on Twiggs Money Flow indicates long-term selling pressure.
Some would argue that the target should be 25000, the low of September 2015. The recent primary down-trend (March 2015 to February 2016) was followed by a strong reaction, from 23000 to 29000, which exceeded the previous high of 27500 (October 2015). Correction is likely to retrace at least half of the reaction, in other words at least to 26000, but there is no clear support level other than the February/March lows at 23000.
India’s Sensex continues to consolidating above support at 27600 after breaking below its trend channel. Bearish divergence on Twiggs Money Flow warns of long-term selling pressure. Breach of 27600 remains likely and would signal a correction to 26000.
India’s Sensex is consolidating above support at 27600 after breaking below its trend channel. Bearish divergence on Twiggs Money Flow warns of long-term selling pressure. Breach of 27600 is likely and would signal a correction to 26000.
India’s Sensex broke below its trend channel, and is testing support at 27600. Breach would signal a correction. Bearish divergence on Twiggs Money Flow warns of long-term selling pressure. Breakout below 27600 is likely and would warn of a test of 26000.
