The chart posted then is given here:
Present falling knife trend is not at all attractive for the counter. The momentum built with this rapid fall won't be reversed soon, until a consolidation takes place. That too needs time. Today's pin bar candle with a long upper wick is more of a bearish nature as it is preceding a long bearish candle. As such the down trend is on, and will not be over soon. Therefore any upside must be used to sell. Buying to trade will not be a good idea as yet.
No comments:
Post a Comment