A clear downtrend with lower highs and lower lows Price recently rejected from the 0.618 Fibonacci level around 98,390 Currently trading around 94,592, with weak bounces showing sellers remain in control The next major Fibonacci level at 1.272 coincides with your target around 87,847
The lack of strong buying pressure and clean breakdown below previous support levels suggests continued downside momentum. The 87,900 area also aligns with a significant support zone marked by the horizontal line at 87,628. However, be cautious of:
Potential support at the 92,234 level before reaching your target The ATR of 2,262 suggests high volatility, which could mean sharp counter-trend moves
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