Just about 2 weeks back, we were expecting an eventual breakdown below the 2.25 support level…
Downtrend still looks really intact especially below 2.40 which it just could not get above for more than a month…
And we also had some bearish signals on the PTI system.... shhhh.....
Anyway, some downside targets were drawn towards 2.10 then 2.00 as seen…
See downside targets below….
Over the past few days, we have indeed seen the support broken..
And looks like we are really on our way towards the 2.00 target…
Some temp support at 2.10 for now but likely to see more weakness towards 2.00 if that fails to hold too….
Cautious long, we can expect some good short covering near 2.00….
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