Nifty Metal IndexShort
Metal Index at resistance
Fib Analysis- the Index is back to the previous highs which is a strong resistance. We have a Fib confluence at the zone.
Trendline- the retest of the trendline from below is an indication of weakness.
RSI- it is now oscillating in the bear range.
Conclusion- in my view all the Indications are towards a deep correction, Minimum tgt is the recent lows which is a good 10% from current levels.
Trendline- the retest of the trendline from below is an indication of weakness.
RSI- it is now oscillating in the bear range.
Conclusion- in my view all the Indications are towards a deep correction, Minimum tgt is the recent lows which is a good 10% from current levels.
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