Despite the failure at the 50% Fib expansion level followed by a two-day drop the outlook remains bullish as the rising channel is intact.
The RSI has breached the channel to the downside, which is a slight cause of worry, although bulls have little to fear as long as rising channel on the price chart remains valid.
However, buyers are seen returning only after a move back above the 7354.1 (Jan 16 high).
The RSI has breached the channel to the downside, which is a slight cause of worry, although bulls have little to fear as long as rising channel on the price chart remains valid.
However, buyers are seen returning only after a move back above the 7354.1 (Jan 16 high).
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.