shortening of buying thrust after the june rally, quickly followed by large severe selling waves
and lack of follow through in the subsequent rallies and at the present position of the trading range
the inability to cross above the 20dma, shows weakness in the price action
unless the supply is decisively taken out, price action on expectation
is better taken with a pinch of salt
even then also, traders should be cautious of a upthrust formation at the level of the high made in june
support as mentioned at the 200 day wilder moveing average and the zone of previous reaccumulation
should be considered - 8000-7500
happy trading guys!
Disclaimer.... not an investing/trading recommendation
expect a series of pauses and redistribution throughout the trend...