After placing a pitchfork it can be clearly seen that the price action is moving within a parallel channel and a double top is formed which has generated powerful bearish trend .
MACD is also strong bearish and RSI is moving down after almost reaching at overbought zone.
We have 200SMA strong support just beneath the channel's support, therefore I am expecting a bounce from 200SMA or somewhere between 0.618 to 0.786 fibonacci insha Allah, and it can be clearly seen that the 0.618 to 0.786 fibonacci is just above the 200SMA.
Soon I will post a buy back plan.
Regards,
Atif Akbar (moon333)
MACD is also strong bearish and RSI is moving down after almost reaching at overbought zone.
We have 200SMA strong support just beneath the channel's support, therefore I am expecting a bounce from 200SMA or somewhere between 0.618 to 0.786 fibonacci insha Allah, and it can be clearly seen that the 0.618 to 0.786 fibonacci is just above the 200SMA.
Soon I will post a buy back plan.
Regards,
Atif Akbar (moon333)