It has been observed that the price action trending in a down rally but now indicating a reversal due to Bullish RSI divergence, where RSI forming higher high and price action forming lower lows. Now, it shall further move up to the bigger downward trendline at around 640 levels. T1- 610 T2-630 SL-572
Weekly chart. ABCD in process. retrace (B to C wave) shot lil below 38.2% (Fibo Drawn from right to left). So not a perfect ABCD. Once the resistance breaks (721) one can buy for 910+ as target. Second target 970+. Stop (Exit) level below "C" wave = 600 on weekly candle closing basis. Time frame 4 to 5 months.
It is been observed on the Hourly chart that the price action is trending down in a downward wedge or triangle formation, taking support and resistance at the marked trend lines. Now, it has touched the higher trend line or resistance and now it shall retrace and further go down to the support trend line. Target: 670 Stoploss: 692 RR: 1:3