BEARISH MOMENTUM IN PLAY. SHORT AFTER BREAK AND CLOSE BELOW COUNTER TRENDLINE
Comment:
Price rejected weekly/monthly resistance with a bearish engulfing candle which has trapped price for 2 weeks below 82.55. Upward channel might not be sustainable to the upside hence bearish bias.Possible shorts at zone between monthly resistance and neckline of broken double tops. Bullish impulsive close above 82.55 level invalidates short bias