We can see the formation of bearish ABCD pattern. The C point retracement is close to the important Fibonacci level of 0.382. The BC projection is close to Fib. level of 2.0. Also we can see a confluence of strong resistance at the current price level, brought in from the chart's daily time frame.
The candlesticks have also been dominantly bearish at the current resistance level.
Based on the said analysis, we can expect the price to go bearish from here.
The candlesticks have also been dominantly bearish at the current resistance level.
Based on the said analysis, we can expect the price to go bearish from here.