BET Weekly
BET Daily
BET-C Monthly
BET-C Weekly
BET-C Daily
BET-FI Monthly
BET-FI Weekly
BET-FI Daily
BET Index (7.076 points on 18th of Feb) is in strong daily downtrend (ADX readings: 49>25) with potential target in the 6.500 – 7.000 points support area where 2005 highs, 2006 lows, weekly SMA200 and monthly EMA50 lie.
Divergent daily RSI and Stochastic, highly oversold weekly Stochastic (3.79<20), weekly RSI entering oversold territory (28<30) and monthly Stochastic entering oversold area (18.64<20) suggest the downtrend may be soon overdone.
BET-C Index (4.930 points on 18th of Feb) is in strong daily downtrend (ADX readings: 48>25) with potential target in the 4.000 – 4.500 points support area where 2005 highs, 2006 lows, weekly SMA200 and monthly EMA50 lie.
Divergent daily RSI and Stochastic, highly oversold weekly Stochastic (4.26<20), weekly RSI entering oversold territory (27.57<30) and monthly Stochastic entering oversold area (16.42<20) suggest the downtrend may be soon overdone.
BET-FI Index (56.501 points on 18th of Feb) is in strong daily downtrend (ADX readings: 42>25) with potential target in the 50.000 – 55.000 points support area where 2006 highs, 2007 lows and long term uptrend lie.
Oversold daily Stochastic (9.76<20), oversold weekly Stochastic (13.04<20) and weekly and monthly RSI close to oversold areas suggest the downtrend may be soon overdone.
The following remarks apply to all three indexes:
Triple top Fibonacci Time Zones suggest a strong move around 20th of Feb that may be a reversal and bottom confirmation due to the oversold readings mentioned above. Owing to long term mean reverting and oversold readings, the potential bottom may prove to hold the lows for months and even years to come if long term uptrend remains intact.
Nevertheless, indexes are currently down trending until we have reliable reversal confirmation.
Divergent daily RSI and Stochastic, highly oversold weekly Stochastic (3.79<20), weekly RSI entering oversold territory (28<30) and monthly Stochastic entering oversold area (18.64<20) suggest the downtrend may be soon overdone.
BET-C Index (4.930 points on 18th of Feb) is in strong daily downtrend (ADX readings: 48>25) with potential target in the 4.000 – 4.500 points support area where 2005 highs, 2006 lows, weekly SMA200 and monthly EMA50 lie.
Divergent daily RSI and Stochastic, highly oversold weekly Stochastic (4.26<20), weekly RSI entering oversold territory (27.57<30) and monthly Stochastic entering oversold area (16.42<20) suggest the downtrend may be soon overdone.
BET-FI Index (56.501 points on 18th of Feb) is in strong daily downtrend (ADX readings: 42>25) with potential target in the 50.000 – 55.000 points support area where 2006 highs, 2007 lows and long term uptrend lie.
Oversold daily Stochastic (9.76<20), oversold weekly Stochastic (13.04<20) and weekly and monthly RSI close to oversold areas suggest the downtrend may be soon overdone.
The following remarks apply to all three indexes:
Triple top Fibonacci Time Zones suggest a strong move around 20th of Feb that may be a reversal and bottom confirmation due to the oversold readings mentioned above. Owing to long term mean reverting and oversold readings, the potential bottom may prove to hold the lows for months and even years to come if long term uptrend remains intact.
Nevertheless, indexes are currently down trending until we have reliable reversal confirmation.
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