After 3 days on indecisive candle, friday candle was bearish suggest a near term correction or retracement of the last rising swing from 89.47 to 180.10.
A swing top based on the idea of lower high and lower low with bearish candle.
Expect the trend line to be tested and the 38.2% retracement 144.54.
Resistance will be at 164-169.
Better opening and intial rise towards 164 or above could be looked at as an opportunity
to exit long or take profits.
Broadly from extreme near term point of view, till the recent peak of 180.10 is not
crossed on closing expect near term correction or sideways volatility.
Expect retracement and trend line to be tested before making attempt to mark a
reversal from the current brieft correction.
Confirmation of the same can happen on breakout and close above 180.10.
A swing top based on the idea of lower high and lower low with bearish candle.
Expect the trend line to be tested and the 38.2% retracement 144.54.
Resistance will be at 164-169.
Better opening and intial rise towards 164 or above could be looked at as an opportunity
to exit long or take profits.
Broadly from extreme near term point of view, till the recent peak of 180.10 is not
crossed on closing expect near term correction or sideways volatility.
Expect retracement and trend line to be tested before making attempt to mark a
reversal from the current brieft correction.
Confirmation of the same can happen on breakout and close above 180.10.