Description
⋅ Negatives
- Broken trendline
- Unhealthy trend over past two years
- Bearish sentiment over increase in interest rate
Positives
- Just above a critical support area
- In potential reversal zone
- Too much bearish sentiment and possible exhaustion
Probabilities
- If drops below 15000, can slip another 1k
- close above 15350 either today or tomorrow might lead to quick recovery
Comment
⋅ Good recovery by the end of session. Also supported by good volume. Rejection is evident. 17500 here we come!!
Comment
⋅ 16400-16450 seems to have lots of rejections on hourly. I believe it’s free run till then.
Comment
⋅ May dip a bit today as there is fed announcement on economic outlook today and CPI data release tomorrow.
Comment
⋅ Same support levels. Can we hold the line?
Comment
⋅ Major trendlines broken and bullish patterns hit stop. Though futures are up, feeling bit bearish till we recover back to 15700 again.
If cannot break the resistance, we are soon going to see 14500 or 14000.
Too much support beyond 14k, hence, do not see going further down.
Comment
⋅ Some good support at 14500 levels.
Hope this holds. Comment
⋅ We are at 14k sooner than we expected. One last chance for recovery.
Comment
⋅ Since, 14k held well, next step is to look for recovery upto 15k.
Price may range between 14k to 15k for a while!! Comment
⋅ Under resistance in hourly. May have short retrace before resuming upward movement again.
Comment
⋅ Trend is up. But, need to retest 15k.