Bearish weekly shooting star candle near 48.30 major high, bearish divergence on Momentum and Money flow index, provide an attractive short in terms of reward to risk.
first target at 43.80 area, which is a confluence of the 50-days SMA a rising trend line and a horizontal support. On a break below this support look for major downside towards 39.90 next key support, a break above the recent high at 48.30 negates this setup.
first target at 43.80 area, which is a confluence of the 50-days SMA a rising trend line and a horizontal support. On a break below this support look for major downside towards 39.90 next key support, a break above the recent high at 48.30 negates this setup.