The counter has started off its bear cycle.
It has completed its first two waves and the wave 3 is in its last leg.
The wave (iv) of wave 3 formed a triangle pattern and yielded a bearish breakout.
The MACD indicator is in the bearish zone as well as confirming the breakout.
Hence, we expect the pair to move lower from here.
It has completed its first two waves and the wave 3 is in its last leg.
The wave (iv) of wave 3 formed a triangle pattern and yielded a bearish breakout.
The MACD indicator is in the bearish zone as well as confirming the breakout.
Hence, we expect the pair to move lower from here.