- Daily chart is on the verge of a breakdown. Line chart shows price closing exactly at the support line. So it should either give a bounce or breakdown in favor of bears.
- Like last week 1100 becomes important for the next week as well. Recent closes below 200 week sma has resulted in some buying, Bulls will hope for the same to happen again.
- Stochastic in four hour chart is yet to become oversold. Stochastic has worked well in this time frame till now because of the range. If price holds this range then stochastic will again trigger a buy. But range breakdown will keep stochastic oversold and price will keep falling.
- CATERPILLAR CHART ANALYSIS
October 1, 2011
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