BEL confirmed its reversal today. It might move sideways to down muna. Immediate resistance is at 4.14. Might retest 3.99 / 4.0. I also used technical indicators RSI and MACD as another tool to check for bearish signals. When price was moving up to 4.43 last Friday, RSI and MACD did not confirm the possible breakout. It showed a signal that momentum is weakening. Short term bearish for now.
LR formed a Black Marubozu candlestick yesterday. The sellers controlled the price action from the first trade to the last trade. I posted my TA in Traders Pizza last November 30 and mentioned that the positive momentum is weakening and other indicators such as Stochastic D and K line cross over as well as MACD bearish cross over is giving a signal of a reversal. Immediate support levels are 8.97, 8.67, 8.36... Used Fibonacci retracement tool.
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