Sell below 15496. Stop loss at 16615. Take profit at 14126.
Reason for the trading strategy (technically):
Price is seeing major support from our ascending support line and also at 15496 ( Fibonacci retracement , horizontal pullback support). We will only sell on the break of this major support which would trigger a push down to 14126 support ( Fibonacci retracement , horizontal overlap support).
RSI (55) has made a bearish exit of our long term ascending support-turned-resistance level and is a presignal that a strong drop could be occurring soon.
Reason for the trading strategy (technically):
Price is seeing major support from our ascending support line and also at 15496 ( Fibonacci retracement , horizontal pullback support). We will only sell on the break of this major support which would trigger a push down to 14126 support ( Fibonacci retracement , horizontal overlap support).
RSI (55) has made a bearish exit of our long term ascending support-turned-resistance level and is a presignal that a strong drop could be occurring soon.
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