If we look at the indicators, we’ll see following:
reverses in the overbought zone and it gives us a signal
histogram is going to support the downward movement and it will give us a signal
lines support the upward movement in the middle term at least
DMI is but line falls and we should not expect any strong price movements.
For confirmation the power of bulls and further upward movement the price will have to break the high of the previous candle and move above SMA50.
Conclusion: the market can drop in short term to the between 7500.00 and 7000.00 levels. This zone is rather strong and it will be able to stop and reverse the price. But for continuation the downward movement the market will need strong fundamental support.
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