It took Support around 17100 on 22nd May and shows a light bounce from the support.
Immediate Support levels- 17000-17100
Indecision Zone - 17300 to 17550-600
Immediate Resistance Zone- 17600
Setup is explained in the chart.
RSI is showing bullish div with a higher high in relation to price making a lower low. It may play out as well. Bulls Needs to sustain above 17600 to show the signs of recovery.
Bias ie Neutral to slightly bullish (Cos of Bull Div)
PS; This is an idea is shared for learning purposes.
Immediate Support levels- 17000-17100
Indecision Zone - 17300 to 17550-600
Immediate Resistance Zone- 17600
Setup is explained in the chart.
RSI is showing bullish div with a higher high in relation to price making a lower low. It may play out as well. Bulls Needs to sustain above 17600 to show the signs of recovery.
Bias ie Neutral to slightly bullish (Cos of Bull Div)
PS; This is an idea is shared for learning purposes.
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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.