In yesterday's analysis, I discussed about waiting for a deeper pullback on NU but it is currently just showing some exhaustion sign rotating back & forth around 0.7117 level. Currently looking for short-term selling opportunities, There are two setups that I am looking at
1. A deeper pullback to re-test the 0.7167 minor resistance zone with 0.7090 & 0.7037 support zones as targets 2. If the NU performs a downwards breakout of the current exhaustion pattern, It could trigger further selling pressure in the market.
However, do not forget the overall trend on the higher timeframe remains bullish, remain neutral bias and be flexible.
Trade safe.
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