To The Moon

Bulls vs Bears - Are the bulls able to 'bear' the pressure? 

In yet another indecisive day of trading albeit skewed on the bears' side, the bulls and bearsfought it out bravely in $NASDAQ(.IXIC)$arena. The bears manage to retake 12000 but only 'bearly'.

There was no decisive move on either side of the doji formed on Friday on slightly lessened volume which indicates

1. Caution on both the bears and bulls side with none willing to commit 

2. Many waiting on the sidelines to join the winner of the ongoing battle at current levels

The key levels are as follows.

1. The bears are looking at breaking 11800 level which will take out three trend lines at one go which are the daily EMA5, EMA10 and EMA20.

2. The bears are looking to reclaim and hold 1200 with the aim of breaking 12600.

Any decisive move with elevated volume mightindicate the short term trend which at the moment still favours the bears.

It is indeed very tricky to ascertain the marketdirection so as I have been mentioning, it's good to reassess risk profile and act accordingly. Those with long holding power may feel comfortable adding more at current levels but those with a shorter horizon might be more conservative and wait out a bit for better opportunities with the aim of conserving capital.

Stay safe 😊