After reversing from a Bearish Harmonic Crab, it took support at an Ichimoku Kumo cloud from where it bounced back to the Kijun resistance at 1560 in daily time frame. In hourly time frame it is near an important Kumo support. If it holds above 1510 it can retest 1575-1600
It appears to have formed a double bottom in lower time frame after the recent sell off. If it sustains above 260 then it could retest 275 where it finds its first level of resistance for any bounce/reversal.
It has a weekly as well as daily resistance at 420 from where it has reacted. Unless it manages a close above it there is strong possibility it might retest support at 390-380 to confirm a higher low. Sustaining above 420 (on closing basis) could take it to 475
The reversal from Bearish Shark has retraced by 50% and has opened up the probability of a Bullish 5-O here which is giving targets of 2400-2450. View would negate below 2050. As per Ichimoku also it has good support between 2100-2060.
It is now at Bearish Harmonic Butterfly PRZ level of 316-20. As per Ichimoku study also it has resistance at 319. A reversal from here could give a dip till 290. View would be negated above 327
