Friday, June 16, 2017

New Silkroutes: Saw some signs of weakness then a sell down.... More downside? Price 0.53

Just a few days back ,we saw some signs of weakness in New Silkroutes at about 0.625 and a prediction was made with some downside targets drawn on the chart. (see below)

Target was to 0.60 then 0.54 and over the past few days, we have indeed seen more selling and our target hit....

PTI grads were alerted of the imminent breakdown previously.... because there were some signals on the system...

For illustration purpose only

Today, we have even seen a breakdown of our 2nd target at 0.54 with a low at 0.53 now

Liquidity has kind of thinned out for now but as long as 0.54- 0.55 is a resistance, downtrend seems intact and we may see more selling towards 0.50... cautious long.... J

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