Li Heng

Commentary:

All time downtrend line intact. Short-term uptrend line intact as well. Bollingers band tightening points to possible explosive movement soon.

Strategy:

Traders should watch for resolution in either direction with strong vol and initiate position in that direction. As we are pretty near the apex, , price action could just simply drift sideway beyond the apex. As such, any movement beyond the trendline in either direction with light vol should be viewed with caution.

MA5 has cut above both MA20 and MA50. Aggressive traders can consider long position once MA 20 cuts above MA50. A breakout above the all time downtrend line would than be the most likely resolution.