A very crucial price action bar formed on BPCL today

21 thg 11, 2019

BPCL: An important candle formation has been printed on the BPCL daily chart. It’s a bear engulfing candle along with a “double key reversal” action. This is a very prominent signal in shift of control from bulls to bears. Also RSI has taken resistance at 60 levels with a bear divergence, a strong loss of momentum! Any further decline especially below 500 can will not be a good news for BPCL bulls.