BNF EXPIRY ANALYSIS- jAN 20TH 2020_WAIT AND WATCH
Mkt on the longer ( 1 day) time frame completed the retracement from 61.8% to 50%. The closing candle is a DOJI with a red body. Lower wick is suggesting support at 37840-37770 levels and resistance at 38100-38200 levels. Coming 2 days Thursday and Friday candles should help us determine the longer trend of the market. Either it will break and start going down to 38.2% (37040) or it will bounce back from 50% level and start scaling new heights.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.