1)Looking left, you can see that price broke out VERY STRONGLY from the symmetric triangular formation(light purple triangle.) This is a SET-UP.
2) The Resistance(Royal Blue line) has capped the upside since October'18. And this week as well, it has managed to stop the upside.
3) Previous SUPPORT(Green arcs) was broken strongly as well. Now this area(horizontal orange line) has become "SUPPORT TURNED RESISTANCE".
4) POTENTIAL (red arcs) which seems to have stopped the rally once again.
So, in light of the above-mentioned factors, I will advise traders to look for sell between 111.90-112.10 with SL above 112.55
TPs can be set at 110.90 and 109.80 respectively.
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