Basically price is showing downtrend tendencies by creating lower lows one after another. Price is currently struggling under the h4 resistence level at 24 748.3, still unbroken which is showing higher chances of price respecting that resistence and pull back down. For an high-risk tolerance trader, right now show a good entry possibility but for a low-risk tolerance trader, you can wait for price to break the lower timeframe support level at 24 628.1 before placing a short entry. This is purely for ideas purpose only and should not be used alone to take on a trade. Good profits traders.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.