MCX – Breakdown After Strong Rally | Bearish Setup Alert
After a massive uptrend from April to June, MCX formed a distribution zone near the ₹9000 mark. The price consolidated in a narrow range and finally broke down below key support (~₹8745) with strong volume.
🔍 Technical Highlights:
Structure: Distribution after uptrend (UTAD possibility)
Breakdown candle closes below consolidation support
Volume spike confirms selling pressure
Price rejection from the ₹9100 resistance zone
Potential downside projection: ₹4600 (as per range height)
📉 Bearish Bias Active
Breakdown below ₹8745 is a short signal
SL: Above ₹8900 (last swing high)
Targets: ₹7800 → ₹7000
💡 Watch for retests, but this setup suggests possible deeper correction if the structure sustains.
🔻 Momentum fading... Bulls should be cautious.
🔍 Technical Highlights:
Structure: Distribution after uptrend (UTAD possibility)
Breakdown candle closes below consolidation support
Volume spike confirms selling pressure
Price rejection from the ₹9100 resistance zone
Potential downside projection: ₹4600 (as per range height)
📉 Bearish Bias Active
Breakdown below ₹8745 is a short signal
SL: Above ₹8900 (last swing high)
Targets: ₹7800 → ₹7000
💡 Watch for retests, but this setup suggests possible deeper correction if the structure sustains.
🔻 Momentum fading... Bulls should be cautious.
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.