Observations on Dec 20 closing.
1. Rebound from the lower band support line.
2. Intra day recovery of more than 38.2%
3. New lower low was formed today from the downfall begun on Oct 19.
Conclusion:
Trend is clearly down as the downward channel is maintained and the new lower low is formed.
In view of point 1 & 2 above, the fall may be gradual and not the sharp as expected.
1. Rebound from the lower band support line.
2. Intra day recovery of more than 38.2%
3. New lower low was formed today from the downfall begun on Oct 19.
Conclusion:
Trend is clearly down as the downward channel is maintained and the new lower low is formed.
In view of point 1 & 2 above, the fall may be gradual and not the sharp as expected.
