- Price is near 200 SMA.
- Attempts to cross 200 SMA has failed twice in the recent past. Price may make another attempt soon. A bearish candle on 200 SMA may give a perfect shorting opportunity. For bulls price should close above 200 SMA decisively for going long.
- Daily chart also shows a contracting triangle which may give good direction.
- Price has closed below day high ema. If it sustains here trend might turn in favor of bears.
December 11, 2011
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