

The chart displays a recent bearish trend, marked by a significant sell-off from recent highs.
Initially, there was strong bullish momentum leading to new highs before a bearish reversal began.
The current market atmosphere suggests substantial selling pressure with critical support levels being tested.
Recently, there's a noticeable bearish candlestick suggesting a strong sell-off from recent highs.
Prior to this, there have been smaller-bodied candlesticks, indicating some indecision.
The overall trend appears to have been bullish initially, peaking with strong upward momentum, before a sharp bearish reversal began.
The MACD line is below the Signal line, indicating a bearish crossover.
This typically signals selling pressure and a potential downtrend continuation.
The histogram is in negative territory, with growing red bars, supporting the bearish momentum.
A notable spike in volume accompanied the recent sharp decline, suggesting strong selling activity.
The high volume on the downward movement confirms the bearish breakout, showing conviction in the sell-off.
The recent volume spike may suggest institutional selling and increased bearish sentiment.
Support is around 4320, which has been tested recently.
Resistance is near the recent high of 4560, where the price was rejected sharply.
A break below the support could lead to further declines, while resistance will likely be tested if there’s a recovery.
Consider short positions if there’s a break below 4320 with confirmed selling momentum.
If holding long positions, caution is needed; observe for stabilization or recovery signals.
Watch for a MACD bullish crossover or volume decreases as signals of potential recovery.



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Secured By SSL. Copyright © Seekapa. All rights reserved. 2024
Company Information: This website (www.seekapa.com.com/) is operated by Bluepine Ltd, a Seychelles investment firm, authorised and regulated by the Financial Services Authority of Seychelles with license number SD183. Bluepine Ltd is located at Suite 205, 2nd Floor, Waterside Property Limited, Eden Island, Seychelles
Risk warning: Contracts for difference (‘CFDs’) is a complex financial product, with speculative character, the trading of which involves significant risks of loss of capital. Trading CFDs, which is a marginal product, may result in the loss of your entire balance. Remember that leverage in CFDs can work both to your advantage and disadvantage. CFDs traders do not own, or have any rights to, the underlying assets. Trading CFDs is not appropriate for all investors. Past performance does not constitute a reliable indicator of future results. Future forecasts do not constitute a reliable indicator of future performance. Before deciding to trade, you should carefully consider your investment objectives, level of experience and risk tolerance. You should not deposit more than you are prepared to lose. Please ensure you fully understand the risk associated with the product envisaged and seek independent advice, if necessary. Please read our Risk Disclosure document.
Regional Restrictions: Bluepine Ltd does not offer services within the European Economic Area as well as in certain other jurisdictions such as the USA, British Columbia, Canada and some other regions.
Bluepine Ltd does not issue advice, recommendations or opinions in relation to acquiring, holding or disposing of any financial product. Bluepine Ltd is not a financial adviser.