I love 65 ma's and twice that or 130 is a nice backstop.
On weekly charts they have been very effective on equity index charts or gold etc.
Hong Kong, which has been one of the strongest markets, surprised me by going right through it but now is marginally under it. That is based on CMC weekly charts which start a new week at 10 am Thursday or before HK trades again.
Since it did break easily higher and is now just marginally below, it is unconvincing either way.
You can see how the ma's have played their part in the past.![]()
I love 65 ma's and twice that or 130 is a nice backstop.On...
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