As previously stated two analysis . First on 22 April
And also after the spill , as we have stated with the run away gaps t the downside.
The second analysis of 12 JULY
Turkish manipulators, if necessary conditions are not strongly distrubed, have the tendency to close those gaps.
So expect to close 98,800 gap. Then a trial of 100.000
There will be a profit realization from 100.000 but ,most possibly these realizations will be short lived and the prices would head up. For a possible scenario of : creation of a huge head and shoulders formation.
The hypothesis to assume that prices will break 100.00 and go on depends mainly on the positive divergence of RSI and Momentum on daily and weekly basis.
which brings out the possibility of making of a huge H&S formation.
If this scenario holds, expect to see the right shoulder close to 110.000 levels.
As the analsysis is bullish , fundamentally BIST is weak so I am not issuing a long position here.
Follow us on twitter : Mr Turquoise @bsozen