Time Frame: 8h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish
The market is testing a major horizontal structure 18199.94.
Taking into consideration the structure & trend analysis, I believe that the market will reach 17820.21 level soon.
P.S Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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Great beginning for a trade, let’s hope it goes further!