Half Hourly Chart
The bears won breaking down from the Inside pattern.The forming of bearish patterns-- a pennant , bearish head and shoulder patterns , expanding triangles , which I have been pointing out since some time had already indicated the bearishness. The fall from 5912 since beginning of May could be retraced by just 23.6%.The lack of volumes on recovery from 5443 led to suspicion of the upmove continuing.Trading below the 200 dema once again for the past two weeks was an alert too.
As shown on the charts the break from the pennant is decisive and the fall should target 5100. Strong supports on the way down are at 5443-5348-5335-5232-5177.
Trading above 5472 ( neckline support) -5443 (previous low) could see some recovery attempts.
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