Wednesday, June 23, 2010

Kuwait stocks excahnge (KSE)

I try apply elliotte wave principle to KSE, and that what i got 




as shown above, before falling price in april, we spot a huge divergence in MACD and RSI which give a clear signal of reversal, what happen after that was a confirmation.


Now the price declined in waves either its correction waves or impulse, see above chart

what make me very puzzled is a volume!!     so i prefer a correction wave underway.

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