As it can be inferred from the graphical illustration, the price has been trading within the boundaries of a formed sideways-moving rectangular box for quite a while. The price has nicely rejected the upper boundary of the box and is now headed to the downside. If the lower boundary of the pattern gets broken, it is more than possible that we will see the price plummet further. Our initial target is set at 1877 zone of support.
Happy trading, everyone!
Happy trading, everyone!