$MERL showing rejection from key resistance after a sharp recovery move. Price failed to hold above 0.379$, signaling potential short-term weakness as sellers step in at the top.
Trade Setup:
Entry Range: 0.373$ – 0.375$
Target 1: 0.365$
Target 2: 0.356$
Target 3: 0.348$
Stop Loss (SL): 0.380$
If $MERL stays below 0.379$, selling pressure may continue toward lower support zones near 0.35$. A break below 0.365$ could accelerate the downside move further.