SMA100 forms the top resistance, which is with time growing and becoming a mammoth target.
SMA200 holds; median line of the set pitch form i.e. 0.5 also holds and aligns with SMA200.
In coming 20hrs, SMA200 support may get retested (@8860). MACD is still entering the buying zone.
Bearish continuation until a rebound above 8860. If breached, next test will be 6k previously called as provisional bottom.
Comment
⋅
SMA200 and medial line breached. The overall bearish momentum is getting stronger. Waiting for a good entry point to go long. Perhaps, this is still hours away at least 12 to see a possible swing.
Trade closed: target reached
⋅
Confirmed SMA200 supports plus Nov 21 severs as a support level at 8242 for next weeks.