The counter, after hitting a high of 1.76000 witnessed a profit booking.
However, it recovered quickly to the area of 1.75400 where it faced a stiff resistance.
Hence, it formed a double top pattern and subsequently broke down the critical support level of 1.74690.
Further, the MACD indicator in the short-term chart has turned bearish as well.
Hence, we expect the counter to be bearish in the near-term.
However, it recovered quickly to the area of 1.75400 where it faced a stiff resistance.
Hence, it formed a double top pattern and subsequently broke down the critical support level of 1.74690.
Further, the MACD indicator in the short-term chart has turned bearish as well.
Hence, we expect the counter to be bearish in the near-term.
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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.