The index added 51.77 points, or +0.73%, to 7,154.43 yesterday. It has started to consolidate between a narrow range of 7,075.04 and 7,261.55, and the indicators’ mixed signals suggest that the trend will persist until at least the end of the week.

Both the RSI and the DMIs are showing relatively strong buying momentum but the ADX is already flattening. Meanwhile, only the MACD is on sell signs with increasing momentum. Meanwhile, the sectors were evenly split between gainers and decliners.

The Industrials (-0.48%) shed the most among the sectors while the Properties (+1.74%) climbed the highest among the sectors. The 50-d MA of 6,513.04 and 260-d MA of 6,475.90 formed a golden cross yesterday.

Recommendation

Trade the range

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