After consolidating above 14.50 for more than 2 months, we have finally seen the break down 2 weeks back…
Sellers seems ready to take it lower and there were indeed some bearish price actions spotted..
Hence, some downside targets were drawn as seen below..
Over the past week, we have seen more selling towards our downside target near 13.50 but then some short covering seen as the market rebounded..
A slight rebound seen towards 14.50 and sellers came back.. and downside targets were reiterated…
Downtrend may still be intact below 14.50 now…
Seeing sellers pushing it lower towards 13.50 again where some temp support possible, but would want to be careful if that fails to hold too…
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