KCPO :- The Market Stays Dead 28/6/2010

With the ADX flat and stays above both the D- and D+:- this market is oversold and its prior trend has stopped. But this market is getting nowhere. As the MACD gets positive , the Stochastic has turned negative again.

If you had engaged long position when price went above the lower Bollinger Band with the Stochastic positive, I would maintain stop at its recent low of 2365. Otherwise I would advise to stay out of this market until something more concrete has developed. I personally would like to see a positive  MACD goes back nearer to its zero line to feel more bullish.

 

The weekly chart ADX remains very dead with it staying flat at a lowly 14's . The MACD has just crossed below its zero signal line which is usually a more bearish sign but it is not been supported by the lowly Stochastic and ADX.

As like the FKLI, maybe you should sit aside and wait for some concrete new signal.