Once again bounced from 200 dema support forming a hammer which indicates bullishness especially when occurs at key supports.The bounce from the key 200 dema support therefore indicates bullishness.However the fact that the pullback from 1258 was retraced more than 80% alerts one to wait for confirmation signals of the bullishness.Till the downtrendline from 1370 is not taken out chances of the downtrend resuming is high.
Resistance at 1298-1306-1324 Supports at 1262-1258-1233
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