Description
⋅ Bearish points
- Failure at falling trend line on the daily chart
- Money flow indicator reversed from 80.00 levels, rising trend line breached
- Daily MACD tilting in favor of bears
- Major averages still sloping downwards
Hence, prices appear on track to breach 50-DMA support of 885 and test key support levels of 865 and 841 levels in the days ahead.
Bearish invalidation is seen only if prices see a day end close above falling trend line resistance.