Wednesday, June 20, 2018
ASI - Can there be a trend reversal any one of these days?
ASI closed with an RSI of 16 yesterday. It fell to 13.5 today, whilst the ASI closed at 6217 points. That was lower than the previous support in the region of 6225 points. There are support areas between 6200 and 6100, but a trend reversal could be seen one of these days, even as early as tomorrow. That's because of the ASI being heavily over sold. It wasn't normal to see the index beaten up 10 days in a row. Also the fall of 198 points within the period was not something that happens always. If the expectations are wrong then we would see 6200 to 6100 areas being tested.
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