IFN India ETF daily chart shows the negative divergence smack down in early November, then the positive divergence bounce in February. Now the price is moving out in a sideways consolidation zone. The indicators are content to see price stumble along sideways for a while but the two-leg bear flag in pink must be watched closely. The pattern is finishing its sideways consolidation and potentially starting its second leg down. If price should fall below 29 then the second leg is in progress and it targets the 24 to 25 area which is also sturdy long term horizontal support. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.
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