Sell MOIL closing 149.75 with stop loss 159.5 then targets are 136-121.
Selling Reason.
1 --> Weekly Price closing below the trendline.
2 --> Weekly RSI is ready to break 40.
3 --> ADX is showing a Bearish move and -DMI is rising.
4 --> Volume is also Selling pressure.
5 --> Bollinger Bands also show the Bands are ready to open in Downside.
6 --> Bollinger Bands width shows the movements are coming and now the candles are big.
Selling Reason.
1 --> Weekly Price closing below the trendline.
2 --> Weekly RSI is ready to break 40.
3 --> ADX is showing a Bearish move and -DMI is rising.
4 --> Volume is also Selling pressure.
5 --> Bollinger Bands also show the Bands are ready to open in Downside.
6 --> Bollinger Bands width shows the movements are coming and now the candles are big.