1- Price has been struggling to breakout previous HL since 22nd May
but went vain to date. Which show lack of interest from buyers.
2- Candles with upper wicks and RSI is taking resistance from 60
level on hourly is evident that price will retrace further.
3- Bearish divergence on daily confirming is also confirming the
retracement will proceed. The price may retrace in between
152~192 to form a right shoulder before and impulsive move or
else price need to break and retest the previous LH area to
confirm an impulsive move to start.
4- Keep monitoring for both above mentioned scenarios.
but went vain to date. Which show lack of interest from buyers.
2- Candles with upper wicks and RSI is taking resistance from 60
level on hourly is evident that price will retrace further.
3- Bearish divergence on daily confirming is also confirming the
retracement will proceed. The price may retrace in between
152~192 to form a right shoulder before and impulsive move or
else price need to break and retest the previous LH area to
confirm an impulsive move to start.
4- Keep monitoring for both above mentioned scenarios.
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