Rejection on the Resistance. Still short.

Jun 27, 2018

The price is back again near the 6,000 level after being rejected yesterday on two strong bearish 1H candles (Engulfing, Three Outside Down on Highs/Lows = -33.0071, B/BP = -85.7219). 4H remains within a Triangle pattern (STOCH = 45.730, Williams = -46.245) which breaks id 5,928.28 is crossed. 1D remains a standard Channel Down (RSI = 33.875, MACD = -370.000) which steadily looks for a Lower Low (Highs/Lows = -182.5658). TP = 5,617.4 (1W MA100) intact. See how a new Channel Down has emerged, which primarily rejected any upside attempts on 6,340.50 and 6,261.10.