KCPO - Bears Are Having The Upper Hand -11/12/2012

 

The selling accelerates and crashed through the middle and bottom bands on last Monday and went further downward. Place stop at 2312. As the ADX has now begun to rise, it is confirming the current trend. But since Stochastic has gone below the 20's zone, we may see some consolidation before the next round of selling.

At the weekly chart where prices go down with MACD and DMI confirming, but the Stochastic continues to stay stubborn and remain positive. Strange indeed. But as long as price stays below the bottom band, I would stick with selling.  2132 may provide some support.