Last Sunday we wrote that the RSI on the top of the 50-level, there is still a chance that the recovery can continue, maybe up against the ceiling of the falling sekundærtrenden we have marked – up against 625 in the coming week.
It reached up against the technical resistance on the 623 level and butted against it both Thursday and Friday.
a Week during one gave an increase of 0.9 per cent, from 617,32 to 622,69. The main index is up 2% since the new year.
the Recovery in the last month is at 1 per cent and in the last 12 months is the Oslo stock Exchange, up 9 per cent. The main index is, then, 5.8 per cent below the all-time high on 660,01 the 20. april 2015 (intraday high was 666,68).
the Upcoming week
With the positive undertonen in the RSI-chartet, and the RSI at the top of the 50-level, however, there is still the possibility that the recovery can continue, but now meet the all-share index resistance both in the RSI-chartet and in hovedchartet.
The old, rising sekundærtrenden is broken and it is not staked out any other direction than the one we have highlighted. It suggests that the recovery may stop against the 625 level, and the top bar in the falling sekundærtrenden we have marked.
two weeks ago, it triggered small buy signal. The potential for these is now taken in the short term, but continues to increase past the 623 level, it will trigger a new buy signal. The wrap also 625 level, it will look even brighter. And should the index continue past the 633 level there will be a large bright spot – and a new buy signal.
For that to happen, however, the falling trendline in the RSI-chartet break – before or at the time of a violation of the 623 and the 625 level. The answer we can get is already Monday.
When the remains in this case in the short term, only that the benchmark index establishes itself on the top of the 625 level. And with the long positive
The big picture
the Prerequisites for a further increase to a new all-time high is still the same.
With the positive undertonen in the RSI-chartet, and the RSI at the top of the 50-level, as noted above, it is still possible that the recovery can continue. It also means that a new slump can stop above the previous bottom and be a kjøpsmulighet.
you need to signal a further rise is that the falling trendline in the RSI-chartet broken. The RSI has broken back above the 50-level, which implies growing up and the opportunity for growth. But the RSI should also break the falling trendline in order to reduce the uncertainty in the short term.
When a violation of the can a small dam burst, stigningstakten make a small jump and signal that the benchmark index may continue up on the 625 and 633.
to indicate that the over one year long consolidation is over and that the recovery to new all-time high and can continue, in also the declining trendline in the top of the RSI-chartet wrap (not shown here).
But it is still also the danger that the main index can make a big swing down again, and, if, after the recoil up the last two weeks, falls back and breaks the 590 and 585-level, one should strongly consider only skalke doors for the fall. The likelihood of it is, however, been reduced with the last two ukenes increase.
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