An inverted hammer appeared in the weekly candle. Price is very near the lower channel. Price may drop around ~ $3-2.95 before the bounce. The question is will is break the lower channel or bounce to the upper channel?
From the 5hr TF, we can see price is at the lower BB. It could be ready for a bounce to test 3.2. We shall see.
NG is at the critical level $3. Tricky tricky.
Daily support/resistance on 13th Feb: 3.044, 3.063
Weekly support/resistance from 13th Feb - 17th Feb: 3.097, 3.056
Monthly support/resistance for Feb: 3.199, 3.333 (NGH7: 3.196, 3.323 )
2017 Yearly support/resistance: 3.415, 2.757
From the 5hr TF, we can see price is at the lower BB. It could be ready for a bounce to test 3.2. We shall see.
Daily support/resistance on 13th Feb: 3.044, 3.063
Weekly support/resistance from 13th Feb - 17th Feb: 3.097, 3.056
Monthly support/resistance for Feb: 3.199, 3.333 (NGH7: 3.196, 3.323 )
2017 Yearly support/resistance: 3.415, 2.757
The NSE Nifty edged down by 42.80 points or 0.48 per cent to 8,896.70 points, and the BSE Sensex down 80.09 points or 0.28 per cent at 28,812.88 points.capitalstars
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