4 types of Resistance confluence in same area.....Nifty Have to *Sustain 1 hour above *14860* to Start upwards journey & back to bullish trends...Otherwise Correction expected from that area.
1) Flare Level of Negative Divergence 2) 50% Retracement Level of last fall 3) 50 hour moving average 4)Long term Support Trendline turned to Resistance line.
50 EMA cross 200DMA in Houly Timeframe....Mean Bearish Crossover....Now in Pullback for Further Down.
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@Rocky_Chow, No Sir....Its Hidden Bearish Divergence where price make lower high but Rsi makeing higher high.....price have to closed above the Flare level to nagate Divergence otherwise it will continue in downtrend.
Rocky_Chow
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@skparbesh Sir thank you for clarifying... It is confusing for me as I am not familiar with the term flare level and how to use it.. Will read up on it.. it would be great if you could explain it in the context of RSI divergence whenever time permits... Thanks again