Hour TA exhibited +ve div and reversed from an important "5465" level. Whenever it reaches 5650-5700 zone followed by a -ve div might commence the next part of the fall.
Daily is clearly downtrending but Friday's price action shows a "Pause" which needs to be confirmed today.
Week Prices clearly shows a clear tendency of supports and resistances around a trendline. The same suggests of a supports @ 5300-5320 and resistances @ 5720 and a bit higher for the current week. More weakness follows once the directional indicator moves into negative zone.
Month too exhibits a crucial juncture for the next phase of action. This semi-log chart(Best suitable for LT charts) shows the tendency of the market to trade in the middle channel for the last 24 months which will get broken incase of a move below 5350(Last major swing low being 5348).
Daily is clearly downtrending but Friday's price action shows a "Pause" which needs to be confirmed today.
Week Prices clearly shows a clear tendency of supports and resistances around a trendline. The same suggests of a supports @ 5300-5320 and resistances @ 5720 and a bit higher for the current week. More weakness follows once the directional indicator moves into negative zone.
Month too exhibits a crucial juncture for the next phase of action. This semi-log chart(Best suitable for LT charts) shows the tendency of the market to trade in the middle channel for the last 24 months which will get broken incase of a move below 5350(Last major swing low being 5348).
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