Winchart Technical Analysis -
Daily Market analysis
On Friday, the 2nd board index ended 0.53 of a point higher to 117.83 points. At the moment, the 2nd board index is testing the immediate resistance at 118.93 points while the 14, 21, 31 EMA is still supporting the 2nd board index. (Study A)
Volume for the 2nd board market on Friday increased 36.6% with the volume staying above the 40-day VMA level. The increase of volume also suggests an increase of market confident thus helps the 2nd board in testing the 118.93 resistance. (Study B)
On Friday, the Stochastic remains in the short term bullish region, therefore, this suggests that the market movement for the short term is still bullish biased. (Study C)
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