As if may 17 2021, when the market touched this resistance and was also sitting on the same support of 46500, the market made a sharp reversal which turn out to be bearish, down to 28688...
In as much as the are of two different scenario , nd I dont see it happening this week, but this resistance have always shown signs of not breaking when ever the market come in touch with it...adding to it that our volume has been low for a long while, I think it will be difficult break through, even if want to ...
The question is will it hold, for me I see a bearish flag coming on soon....
For me I will prefer to avoid it, go lower , then enter long and sell at the retest of this resistance...
In as much as the are of two different scenario , nd I dont see it happening this week, but this resistance have always shown signs of not breaking when ever the market come in touch with it...adding to it that our volume has been low for a long while, I think it will be difficult break through, even if want to ...
The question is will it hold, for me I see a bearish flag coming on soon....
For me I will prefer to avoid it, go lower , then enter long and sell at the retest of this resistance...
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