One last pullback pending towards 15300 level and market will try to fill the gap if fake out happens at resistance zone.
Five confluences will build up strong resistance at current level:
1) 16965 is exactly at 50% FIB level.
2) Previous strong support now strong resistance zone.
3) Relief rally possibly fill the gap created during strong downward momentum.
4) Edge of the triangle pattern highlighted.
5) Strong divergence with RSI & Stoch RSI.
Five confluences will build up strong resistance at current level:
1) 16965 is exactly at 50% FIB level.
2) Previous strong support now strong resistance zone.
3) Relief rally possibly fill the gap created during strong downward momentum.
4) Edge of the triangle pattern highlighted.
5) Strong divergence with RSI & Stoch RSI.