An Ending diagonal formation on what looks like Wave C looks to be in formation.
This has possibility for ending somewhere in between 11250 and 11140 per FIB levels for fall from 11980.
Also per FIB levels for rise from 10335 to 12100, this coincides with 50% retracement.
RSI divergence is also visible as shown on charts.
Will this end the downtrend? Most likely for the near term ... Wait and watch for formation of Higher Highs and Higher lows before going Long....
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This has possibility for ending somewhere in between 11250 and 11140 per FIB levels for fall from 11980.
Also per FIB levels for rise from 10335 to 12100, this coincides with 50% retracement.
RSI divergence is also visible as shown on charts.
Will this end the downtrend? Most likely for the near term ... Wait and watch for formation of Higher Highs and Higher lows before going Long....
Please do follow for further ideas and do leave a LIKE.
