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Friday Asia-Europe Trading Trend Analysis:
( Buy on dips above 5105 ) Bullish targets: 5123-5138-5152
( Sell on rallies below 5090 ) Bearish targets: 5077-5062-5040
As long as price maintains above 5090, the market can be viewed as in an uptrend. Yesterday's decline attracted many bottom fishers, leading to today's rebound. A breakout above 5152 is likely to bring further gains.
Breaking below 5090 indicates a possible wave of profit-taking, therefore selling on rallies is advisable. Breaking below 5040 is likely to extend the downtrend.
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