Monthly Chart II
The monthly charts made a lower high lower low candle. The long lower shadow shows good recovery efforts. the lower trendline of the blue channel held well . Chart II however shows the 12 month ema which has been a good indicator of the trend has been broken once again.Whipsaws around this ema, as happened in the 2008 correction, check out chart II, indicates weakness to come.
Scaling 5833-5944 should bring in some strength else expect the downmove to continue.
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