CNPF recently kissed the immediate downtrend resistance but failed to make a breakout despite the huge traded volume. This suggest a toppish price action and a potential sign of distribution.
*ADX also indicates a potential end to prior trend.
*Selling pressure already started.
Trading Plan
- Take some profit on short term position (like take half and profit run the rest with trailing stop in case of a retest of resistance followed by a breakout).
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