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REBOUND ABOVE 14 DAY RSINSE ASI staged a critical rebound above its 14 Day RSI 50 up by a huge 441.68 points closing the index at 24,978.70. As I mentioned in my last report, it is extremely
important for the Index to rebound off its
14 day RSI
50 and intermediate level in order to establish it as a
support and consequently, new highs. We are happy to see that
indeed, the index did just that and also broke out of its
200 MA of
24,721 level, completing a reversal with immediate resistance
level at above
24,414 points.
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guideline to interpreting the specified indicators. This information
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