Price is falling for many days with less pullbacks. On the lower time frame price has formed a falling wedge, which is a bullish pattern.
On higher time frame, that is weekly chart, price has broken the trend line which confirms the bearish trend. As per the weekly chart, support is at 310 - 315 level.
Resistance zone is 358 - 362.
Buy above 353 with the stop loss of 350 for the targets 356, 360 and 366.
Sell below 344 with the stop loss of 348 for the targets 340, 336 and 330.
Do your own analysis, before taking trades.
On higher time frame, that is weekly chart, price has broken the trend line which confirms the bearish trend. As per the weekly chart, support is at 310 - 315 level.
Resistance zone is 358 - 362.
Sell below 344 with the stop loss of 348 for the targets 340, 336 and 330.
Do your own analysis, before taking trades.
Comment:
Gap up.