Market appears to be range bound, stuck between MA(50) & MA(200). Lot of overhead resistance ahead and market will need a stronger push for NEW HIGHs. Where is the catalyst? Which way is path of least resistance!!!
Last week we mentioned that we are not out of the woods. Now, we have the proof as market could not hold above MA(50) area and trying to find support desperately. What shall we expect next!
Market staged an impressive rally against all odds so far, however we are not out of the woods yet. But WHY? What possible outcomes can be expected at this juncture?
What is NYUD?
What is BPNYA?