Despite the failure at the 50% Fib expansion level followed by a two-day drop the outlook remains bullish as the rising channel is intact.
The RSI has breached the channel to the downside, which is a slight cause of worry, although bulls have little to fear as long as rising channel on the price chart remains valid.
However, buyers are seen returning only after a move back above the 7354.1 (Jan 16 high).
The RSI has breached the channel to the downside, which is a slight cause of worry, although bulls have little to fear as long as rising channel on the price chart remains valid.
However, buyers are seen returning only after a move back above the 7354.1 (Jan 16 high).
