Is the worm turning?.Relentless selling, isn't it. Looks like...

Is the worm turning?
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Relentless selling, isn't it. Looks like some big entities exiting, trading pattern wise. Last 2 weeks has been same. Not a big drop any day, but small drops every day..

So where is the bottom? Difficult to say. Last weekend I wrote about an unfavourable condition. Having a lower high, lower lows, and most importantly, higher drops. This is from last weekend post - There is a pattern in play, not favourable. It dropped from 30.5 to 24.5 (6c), then from 30 to 22 (8c), then from 27.5 to 18.5 (9c) and now its coming down from 26.5.. Today we reached 17 from 26.5, so did 9.5, so crossed 9 and the pattern has been met. We could still go lower, but opens up for a comeback.
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Was today any different? Similar to last weeks, but slightly different. We have had only 1 green in last 10 trading days. What I found different today was as if selling is exhausting. Based on trading. We really don't know who all are selling, what their target is, etc. So we can only make a guess. And hope. I had also written last week that if it comes to this level below 18.5, there was a chance it will be bought. It felt like that today. First signs if some ready to buy here. I picked up a fair few today those that I have been trading.
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When will there be some confirmation that selling is over? Any news can certainly help. Otherwise we need to have, I feel a 20% buffer. So from 17, it means we need to get to 20.5 and stay above that. Its a long way. All the effort has been in holding or making the drops less, not about gains. But sometimes, when things turn, they can dramatically. Lets hope it turns out that way. All the best.
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