price was doing great but since it made double top it was in a bearish trend.
this bearish trend meets its support near lower trend line. than it got coronavirus reset since than it is in bullish trend
this trend reversal started near white lower trend line has reached upper white trend line.
what next for price from here ?
this bearish trend meets its support near lower trend line. than it got coronavirus reset since than it is in bullish trend
this trend reversal started near white lower trend line has reached upper white trend line.
what next for price from here ?
- it has made its 50% retracement of bear market
- price is testing upper trend line which has made fake breakout near blue arrow inside yellow ellipse than breakout than retracement back to trend line before making double top. which increase the importance of this upper white trend line
- bulls buying at the bottom taking profit at 50% and upper trend line
- price at the upper trend line of blue channel
- bullish breakout or retracement from here
Note
no big change. lets wait how India digest fed tapering
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Disclaimer
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.