A bullishness was expected at a close above 4800, it came back but was much furious than expected.
Weekly UP, Daily Up. Weekly resistance below 5140, Daily 5110 (BrRL) & 5170 (BlRL). So effectively 5140 (50% fib from the top of 5450) level to offer resistance.
Now the big question, whether a temporary reversal has happened! P&F chart is pretty clear in this sense -
- w.r.t. the top of 6340 Nov'10, the BrRL has been broken in Feb'12.
- w.r.t. of 5620 Feb'12, the BrRL lies at 5300 level.