The price has hit the confluence of monthly, weekly and daily resistances. It is experiencing the pull back from this resistance. I think this is pretty stromh resistance and has a higher porbability of holding the price for some time. Below this, there is a support level which is again a confluence of monthly, weekly and daily support levels which makes it a very strong support. Any dip to this support zone is for a buy. It is possible that the price visits this support zone. A long is definitely favorable in case the current resistance is broken and the price trades above it for a while.