Ummm..........I am however not gonna be very excited about the oscillators' getting oversold in Daily charts. Because weekly chart is not yet in oversold zone.
Daily chart below:
Market is oversold in Daily chart. But in weekly chart,it is not yet oversold. That is what troubling me. Besides we haven't reached to the bottom yet,it seems.............This time things are a bit complicated.
As I am looking for entry position,I would like to see oversold condition in weekly chart before I enter! I would like to wait a bit more. But for those that are holding stocks at this fall,well,wait and see seems to be the only policy now for them..........
But honestly,I am concerned now. I was enjoying the fall all this time. But today's fall made me concerned..........However,we have seen fall of three consecutive days just before election. One of the fall had lost 100 points in oneday,more than today. After that day,big buyers entered the market. I hope same thing will happen this time too...............We need to see big buys...........
Interestingly,oversold condition in weekly chart always has triggered a new bull run in DSE during last three years. I want to see what happens this time. I know there will be a bull run-short or mid term. But I want to wait to see where the Index stops!!!
Waiting!!
