Let me start with 9 RSI day chart .. where I see the -ve divergence has formed well and showed its effects today .
But again we have closed at 5747, above 5 day ema at 5735 .
Trend still intact , though momentum is not there now , with a close below day high ema .
Safe shorts would be only below a close of 5 dema .
Candle pattern wise we have a Bearish Engulfing today , which is there after a good uptrend along with weakening of momentum . Candle formed today engulfs the shadow also ,
Confirmation in the form of further weakness needed on Monday . On day charts SS has not crossed the trigger line yet , with a cross of trigger line , shorts would be safer.
Probably it may come with a close below 5 day ema .
Retracements for todays fall from 5810 to 5706 are
Prices going above 80% would mean strength ...
we have done close to 50 % today at 5758.
All in all , A bearish engulfing + losing momentum on Day TF + -ve divergnece persisting on day charts .
Macd Histogram divergence
But again we have closed at 5747, above 5 day ema at 5735 .
Trend still intact , though momentum is not there now , with a close below day high ema .
Safe shorts would be only below a close of 5 dema .
Candle pattern wise we have a Bearish Engulfing today , which is there after a good uptrend along with weakening of momentum . Candle formed today engulfs the shadow also ,
Confirmation in the form of further weakness needed on Monday . On day charts SS has not crossed the trigger line yet , with a cross of trigger line , shorts would be safer.
Probably it may come with a close below 5 day ema .
Retracements for todays fall from 5810 to 5706 are
| From | To | Fall/ Rise | 0.236% | 0.38 | 0.50 | 0.618% | 0.736% | 0.80% |
| 5810 | 5706 | 104 | 5,731 | 5,746 | 5,758 | 5,770 | 5,783 | 5,789 |
Prices going above 80% would mean strength ...
we have done close to 50 % today at 5758.
All in all , A bearish engulfing + losing momentum on Day TF + -ve divergnece persisting on day charts .
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