After a strong rebound at old cloud chart support levels, the FTSE250 is now close to the bottom end of the cloud chart resistance zone! If resistance holds then the index will continue its downtrend since price action is below the cloud.
Key resistance zones are indicated on the weekly cloud chart!
The cloud remain a key resistance zone in this overall bear market. the index dropped about 20% since the cloud chat sell signal, and then rebounded from the old support zone!
No comments:
Post a Comment