Trader's Logbook

FDC is currently on an uptrend but declined by 2.24% today. Is this going to be a signal of correction? What we see on its daily chart looks like a Bearish Two Crows pattern. We see a long green candlestick 2 days ago followed by a small red candlestick that gaps up at the opening. Now we see a relatively longer candlestick than yesterday. These actions show that the bullishness started to evaporate.

Will the bulls accept defeat or they will retreat but muster themselves at 5.90 zone where a group of heavy loaded bulls awaits. If proved to be strong, 6.49 will be the next attack zone by the bulls.

Caveat!