Monday, June 18, 2018
ASI - Slope persist. No change of momentum.
On the 8th of June we discussed the ASI, when it moved into the support channel. Sadly the bears prevailed for the next week as well. Today's behaviour was no better, thus the index pierced through the support channel. It is heading down to 6267 points. Index broke down from the previous low of 6316 points reported on the 19th of December 2017. So did the RSI which is now below the previous low of 21.94 points. The formation of the momentum indicators do not show a reversal of the trend just yet. Earnestly hope the a reversal would happen above 6267 points, which is the 161.8% of the fib extension that is being monitored right now.
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