Monday, June 4, 2018
ASI will find support within a range below 6371, based on Fib Extensions
The highest the ASI reached thus far this year was 6605 on the 21st of Feb. Then it hit a low of 6417 on the 28th of March. Thereafter it reversed to test 6605, but failed to move up there. However the top at that was 6561 on the 18th of April. Fib extensions were drawn based on these 3 points. The completion of the 1 time down trend is around 6371. Mostly the ASI up or down tests 1.27 area, and that is around 6321 points. If the trend is not going to change at the present levels, it will certainly test this range. Any trend change will 1st test between 6450 and the 100sma at 6492 points.
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