60 min chart 7.02.11Drawn a majenta pitchfork with pivots as shown in chart from immediate swings.
Todays price moved within the range of 5439 -5378 and quite inconclusive on further direction.
Two possibilities -
1.If it breaks 4.02.11 low of 5370 further move down towards 5288 ( calculated from current swing high - ( 2 x range points between P0 and P1)
2.If there is a move up , resistance and selling pressure can come in 5470 / 5490 ie at magenta and yellow UML above.Price can move up only after closing above 5500 .