A price action below 1590 supports a bearish trend direction.
Increase short exposure for a break below 1560.
The target price is set at 1420 (just below its 38.2% Fibonacci retracement level).
The stop-loss is set at 1720 (just above its 78.6% retracement level).
Failing to break above its 200-day simple moving average (which acted as major resistance), might trigger some downside potential.
Increase short exposure for a break below 1560.
The target price is set at 1420 (just below its 38.2% Fibonacci retracement level).
The stop-loss is set at 1720 (just above its 78.6% retracement level).
Failing to break above its 200-day simple moving average (which acted as major resistance), might trigger some downside potential.