Technical View: The price has been trading in its rising channel formation from past few months and price has faced resistance of its upper band at 68.50 levels on daily chart.
Price has faced resistance of its horizontal trend line at 68 levels on daily. Moreover, price have been trading below its 21 daily exponential moving average which suggest near term remains down.
So any rally in the prices towards 67.85 level, used as selling opportunity. A momentum indicator RSI has moved below 60 levels on daily chart, which suggest bearishness in the prices.
A momentum indictor MACD has given negative signs on daily chart, which gives negative confirmation to the prices.
For now we expect prices to move lower towards 67.40 levels in few trading sessions
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