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Why its so bearish according to the technical analysis.
If you can see closely that candle pattern create an "Evening Star" pattern which is caused a bearish movement.
If you can see the circled area which is RSI line crossed the 60.49 horizontal line, if its crossed the 60.49 it will keep go down for certain period, which is a bearish movement.
Last one is according to the fibonacci retracement, it was try to reach the 0 level of fibo but its keep rejecting several times from the strong resistance at 12490.50 and price was retrace from resistance to 0.236 level of fibo which is a bearish movement.
Open for discussions. Comment and like us for more.
Note: This analysis made on without any economic or geopolitical news, Trade at your own risk.
Why its so bearish according to the technical analysis.
If you can see closely that candle pattern create an "Evening Star" pattern which is caused a bearish movement.
If you can see the circled area which is RSI line crossed the 60.49 horizontal line, if its crossed the 60.49 it will keep go down for certain period, which is a bearish movement.
Last one is according to the fibonacci retracement, it was try to reach the 0 level of fibo but its keep rejecting several times from the strong resistance at 12490.50 and price was retrace from resistance to 0.236 level of fibo which is a bearish movement.
Open for discussions. Comment and like us for more.
Note: This analysis made on without any economic or geopolitical news, Trade at your own risk.