Tuesday, November 30, 2010

Brazil, India & Turkey Stock Indices Trend updates

BOVESPA - H&S rolling down pattern points to a rotation below the 200-DMA.

India Nifty 50 Index has a Broadening Top pattern with broken base which points to a target at the 200-DMA.

Turkey 100 Index bearish breakdown of the supporting trendline targets the 200-Day MA.

All charts have oversold reading on the Momentum and RSI technical indicators which might point to a technical bounces however it still means that the prevalent trends are intact and they might accelerate further.

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