IOI’s momentum had slowed down as price was gradually decreasing, and as momentum had bounced back from its previous low, price became less bearish and more within the sideways range that it’s still currently in. The current state of IOI’s momentum tells us that there is a fight for upwards movement, as momentum is increasing while the price is staying at an even balance, which could indicate a random breakout soon.
Choppiness was on a bearish-neutral state as it was rapidly increasing in support and resistance. The brief moments of sideways movement could indicate that this index’s value will fall somewhere in between the higher end of the two averages (30-50 value).
Choppiness was on a bearish-neutral state as it was rapidly increasing in support and resistance. The brief moments of sideways movement could indicate that this index’s value will fall somewhere in between the higher end of the two averages (30-50 value).