Winchart Technical Analysis -
Daily Market analysis
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As indicated by A, the 2nd board index remains resisted by the falling 14, 21, 31 EMA, which is still serving as the dynamic resistance to the 2nd board index. If the 2nd board index should remains resisted by the falling dynamic resistance, the outlook for the 2nd board index shall remains bearish biased.
Volume for the 2nd board market increased on Friday; however, it is still staying below the 40-day VMA level. Therefore, this suggests that the overall participation to the 2nd board market is still low. If the volume could break above and maintain above the 40-day VMA level, the market sentiment would improve.
As circled at C, the Stochastic is now breaking above the 30%. If the Stochastic should remains above the 30% level, the market movement for the short term would be at neutral.
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