Weekly Chart
Did not quite touch the downtrendline from 1371.Resistance now at 1318.Stochastics has reached overbought region calling for caution on longs.Macd in buy, Rsi14 moving up above their midpoint..
Daily Chart
Daily charts formed a hanging man at the strong resistance of the downtrendline, though a longer lower shadow would have been more convincing,which is bearish. Resistance is at 1314.OBV has already crossed it's last peak and is moving up with strength.Macd in buy,20 and 50 dema completed the bullish cross and moving up, Rsi14 and stochastics too moving up above their mid point.
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Lakshmi Ramachandran
www.vipreetsafetrading.com
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