Price has been consolidating for nearly 2 weeks at a price range. RSI is showing weakness in momentum to sustain that price range and is showing divergence. MACD is also showing a bearish crossover. Price action seems to form a FLAG PATTERN. BUT it could also turn into being a ROUNDING TOP Formation. There has been an uptrend, with Higher Highs and Higher Lows, followed by a consolidation/sideways price movement. Keep watching out for a breakout.
If it breaks above, it could signal a bullish move and go long.
If it breaks below with a strong bearish candle, it could proceed towards 3115 and 3080 levels. It may bounce from either of these crucial levels.
!! Keep a watch !!
If it breaks above, it could signal a bullish move and go long.
If it breaks below with a strong bearish candle, it could proceed towards 3115 and 3080 levels. It may bounce from either of these crucial levels.
!! Keep a watch !!