- As discussed in the below chart price has stopped near 200 sma. momentum is with bears, price closing below 200 sma will extend d fall in the coming weeks.
CHART - I
- First chart shows weekly MACD sell signal. Price sustaining below 20 Week SMA should favor bears in the coming weeks.
- For the trend in daily chart to turn completely in favor of bears price need to break the 200 Day SMA. 200 SMA is near 36.67 this level may and the Fibonacci area shown in the last chart may act as support for today.
- GOLDMAN SACHS CHART ANALYSIS