On Wednesday, KSE – 100 Index remained negative for throughout - TopicsExpress



          

On Wednesday, KSE – 100 Index remained negative for throughout the trading session and closed with the loss of 293 points but showed some signs of recovery. However, Index has broken all major support levels, given by short to medium term moving averages, indicating a Bearish outlook for short to medium term. Momentum Indicators have been falling sharply. RSI is much nearer to touch oversold region, whereas; Stochastic Oscillator has touched the border of oversold region. The next downside target seems to be around 29,045 points level, given by Lower Bollinger Band. The feasible trading range consists of 29,045 points level to 29,840 points levels. Index may take a short span - technical rebound today.
Posted on: Thu, 07 Aug 2014 03:58:31 +0000

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