MCX Short - Death Cross Over & Major Support Breach
Death CrossOver :- 50MA falling down 200MA
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Price broke the Major Support and going down.
Large Volume Selling can be seen in the last two days, Bears are in the Driver Seat now. So, not advisable to take Long Position now.
One, Two green candles may form now as Pullback Bull Leg, so be cautious for taking Long Positions.
Next Major Support S1 is at 1394
After that, it may take Support S2 from the Existing Trendline Support at 1370.
Next Major Support S3 is at 1341.
If it breaks that, significant downfall may be expected.
PS- I am not SEBI Registered. Views are for personal reference.
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Price broke the Major Support and going down.
Large Volume Selling can be seen in the last two days, Bears are in the Driver Seat now. So, not advisable to take Long Position now.
One, Two green candles may form now as Pullback Bull Leg, so be cautious for taking Long Positions.
Next Major Support S1 is at 1394
After that, it may take Support S2 from the Existing Trendline Support at 1370.
Next Major Support S3 is at 1341.
If it breaks that, significant downfall may be expected.
PS- I am not SEBI Registered. Views are for personal reference.
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