A minor rebound to 6724 levels was quickly undone as anticipated in the morning update. The index is likely to end on a weaker note, more importantly below the H&S neckline, thus marking back to back close below neckline support.
Thus, doors are open for a decline to 6600 levels.
Bearish invalidation is seen only if prices end the day back above H&S neckline level.
Thus, doors are open for a decline to 6600 levels.
Bearish invalidation is seen only if prices end the day back above H&S neckline level.
