PFC is in a channel pattern on 1 moth TF since 2010.
On a Daily TF it is following a downward trend line and recently formed a bearish engulfing candle at the trend line, so it could be a good opportunity to short.
Short term target: 104 (next strong support).
Long term target: 80-85 (monthly channel support).
P.S: If market continues uptrend then we might need to look for another opportunity on this.
On a Daily TF it is following a downward trend line and recently formed a bearish engulfing candle at the trend line, so it could be a good opportunity to short.
Short term target: 104 (next strong support).
Long term target: 80-85 (monthly channel support).
P.S: If market continues uptrend then we might need to look for another opportunity on this.
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