- As shown in the chart, the 200 MA is an very good indicator to use to find support/provide breakout signals, as indicated by the purple circles.
- Below the main chart, you will see the volumes chart. I have indicated in the green circle the volume level we saw on yesterdays selloff
- This volume level is the HIGHEST we have seen since the bull rally started from the 1280's level, yet despite this drastically increased volume, bears were UNABLE to break the 200 MA.
- This fact alone, to me indicates the 200 MA will provide support again for a bounce
- Below the main chart, you will see the volumes chart. I have indicated in the green circle the volume level we saw on yesterdays selloff
- This volume level is the HIGHEST we have seen since the bull rally started from the 1280's level, yet despite this drastically increased volume, bears were UNABLE to break the 200 MA.
- This fact alone, to me indicates the 200 MA will provide support again for a bounce