Longer term trend in DSEX

It seems Index is trying hard to stop its fall. Recently,index with the help of Finance and Bank sector showed a reversal, and showed buyers are still strong.

Index has shown a lot of ups and downs revealing the fight of bulls and bear. It has created a complex consolidation phaze. Such a move by index is significant. Because any trend is stopped and reversed either with “V” type pattern,or consolidation pattern.

It looks like,index’s fall is getting reversed. Technically,index has broken the trendline. This break of trendline has happened after a long six months of fall. Also,in the monthly chart,Index has gone to oversold level and now standing at a very significant level. Longer term trend seems to be getting bullish in DSE!

In August,Index usually remains bullish. This bullishness could last till november. Let’s see what index does this year!!