Market pulled back a bit last week which can be considered good for trend continuation. However, charts show that volume is not supporting this move higher which remains a concern.
Market broke out of consolidation as expected and moving higher. Soon we shall hit the resistance near 8200 as shown in below charts. For now the UP trend is intact and will remain so for probably another 2-3 weeks. What after that???
After a BIG move, market went into consolidation for past few days. This is considered a good sign for further bullish move. How far will this market fly!!!
Past couple of days, Market is literally on a roller coaster ride. Last week, we got more details regarding, Fed meeting, ECB near term action & US jobs data which could provide much needed momentum and most likely we may see a sustained move UP. BUT how long will this move last?
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