This was moving in a channel for last 4-5 months, last month It broke out that trend.
Now Today It is down and taking support at that range of channel,
If it breaks 2200 It can go upto 2050,
If it sustains 2200 then 2350 can be seen pretty soon again.
IF (and I say IF in caps), it follows its 60 min charts, I can see a downside soon,
In previous trend when it made double bottom (W) trend it made 5 bottoms before falling,
Now in this current double bottom (W) trend 5 bottoms have been made, if it follows the trend then will make a 6th bottom near 800.
Was moving within a channel till MAY but has broken that support level, now a crucial support level of 505 is broken. Now 440 can be seen on the charts. That also pretty soon.
Has traded below the Range of 500-496,
If closes below 496 get ready to short,
but might get support from old support price of 493
If 493 is broken 450 can be on the charts.
