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BHARAT PETROLEUM CORP LTD

A very crucial price action bar formed on BPCL today

By BharatJhunjhunwala
BPCL: An important candle formation has been printed on the BPCL daily chart. It’s a bear engulfing candle along with a “double key reversal” action. This is a very prominent signal in shift of control from bulls to bears. Also RSI has taken resistance at 60 levels with a bear divergence, a strong loss of momentum! Any further decline especially below 500 can will not be a good news for BPCL bulls.
BANKNIFTYbharatjhunjhunwalaBPCLChart PatternsForexichimokukinkohyoTechnical IndicatorsNIFTYprorsiRelative Strength Index (RSI)Trend Analysis
BharatJhunjhunwala
Bharat Jhunjhunwala
MFTA,CMT,CFTe,MSTA
prorsi.com
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