From the below chart of RM Seed (Daily continuous contract), prices which were moving precisely in a rising channel formation have given a bearish break, thus opening negative possibilities. Now it has started forming a lower high and lower low (marked in a falling red channel). Prices are also trading below 20 EMA giving a sign that the positive momentum is on a hold. Momentum indicator RSI is negatively poised and it is below the center line. Any move below 3710 can drag prices lower till 3650 levels in short to medium term perspective which is the support of the small red channel.
