Just last week, we have seen Hi-P heading up towards the 1.50 KEY RESISTANCE level…
Was expecting more selling from here and even a break back below the 1.40 support level with the downtrend continuing…
Hence some downside targets were drawn to reiterate the weakness…
There were also some signs of a downtrend in formation based on our trend indicators so a retracement down was likely..
Indeed it has happened and over the past few days..
We have seen the 1st target hit and the 2nd one lower seems to be on the way too…
Would want to be careful of more selling pressure, especially below 1.20 now… cautious…
Had some bearish signal on the PTI system… and then the selling started….
No exits…. Shhh….
See where we are below now…
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