ITC was a failed trade for me the last time i updated the chart. However it still is consolidating in the same zone and is at a point of breach / reversal. The MACD indicator has been compressing for long now any confirmed reversal has to be supported by the breach of the trend line by the MACD line towards the upside. However if the MACD line continues its trend downward we might see ITC breaching its trend line and testing 191.75 levels which it hasn't broken for a while now. A breach of that level should give some decent movement.
The Question still remains will it breach it or will it reverse yet again
The market doesn't look like it is ready to go down so will ITC buck the trend or continue with it ?
The Question still remains will it breach it or will it reverse yet again
The market doesn't look like it is ready to go down so will ITC buck the trend or continue with it ?
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.