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1. There is a strong resistance zone.
2. In past Price has reversed from this zone.
3. Even though the price has broken this zone the voulume is negative that shows the sentiment among traders in the market is bearish. There is a high possiblity of price reaching to 1st Target at 331 and then the 2nd target at 308.
4.Price at Point B on the chart is higher...
Price has hit Resistance level and has reversed. Price should go down further till 73.92. Also the last Daily candle i.e of 16.9.2016 is a strong bearish candle. Idea is based on price action.
***This idea is published for educational purposes only***
Price has hit Resistance and it is retracing. Good possiblity of traders booking profits. Price is retracing. Price may hit 1st Take Profit level at and then should move down further to price at 48.49.
***Idea is Published only for educational Purposes***