May 30, 2014

INFOSYS Death Cross Update

  • Infosys gave another big volume bearish daily candle.
  • Price has violated the weekly previous resistance zone which was expected to act as support now. Week is falling back into the Weekly range. Bears need a weekly close into this range to extend gains further.
  • Hope for bulls now is in the Approaching golden ratio and the weekly cloud. If price does not bounce at these levels bigger falls can be seen.
  • Death cross has also done well. Price moved back to 50 Day SMA and got resisted there.

No comments:

Post a Comment