It is been observed that the price action moving in a uptrending channel. Currently the price action has reached to the uptrend channel resistance, it will be interesting to watch from here on that the price action will break above the resistance or retraces back to the support levels of the channel.
Trade active
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The prices did retrace from the resistance levels indicating selling pressure. The price shall come down further tomorrow.
Target: 331 Stoploss: 343
Trade closed: target reached
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Target of 331 reached today.
Trade active
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Today, the price action formed Lower highs (LH) indicating weakness. It shall go further down to 315 levels Stoploss 343
A middle channel line makes the support / resistance points in the chart more clear..