Weekly chart shows
Confluence of trend line support (rising+larger falling) seen around 880. Correction could run into fresh demand around 880 levels.
Another scenario - Rebound from 23.6% followed by a break above 1039 (last week's high) would open doors for a test of 38.2% Fibo.
- Falling trend line breached
- Trades above 23.6% Fibo of July 2014 high-Jan 2016 low) = 932.85
Confluence of trend line support (rising+larger falling) seen around 880. Correction could run into fresh demand around 880 levels.
Another scenario - Rebound from 23.6% followed by a break above 1039 (last week's high) would open doors for a test of 38.2% Fibo.
