The price has been ranging between support and resistance for some time. If we take a look at seasonals, we will come to know that this index faces a bearish scenario in early March, and for that, we need a couple of confluences, like the violation of the trendline, which has been intact since Oct 23. For further confirmation for our short setup we will wait till price breaks the trendline and then retest it.
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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.