Hello…
From past weeks has been slowly grinding higher , but we think now time has come for to decide its future path ,
As per our opinion , we don’t see potential unless it crosses above 4300 and remains there for atleast 2-3 weeks..
Looking at weekly chart , we find formation in a downtrend , where as 20 MA is strongly pointing downwards , with closing in ,
Now if you use BB in your trading you must be familiar that in this type of situation most probably 2 outcomes are expected :
1. Price strongly rejected from Middle Band towards lower band , hence getting Short opportunity.
2. Strong Impulse towards upper which will be shortlived as Price will have to be back in range , hence again giving us Shorting opportunities from 4800 – 5000 levels towards retest of BB middle band or may be move lower towards lower Band and 2500 Area..
Anyhow whichever is the case watch closely breakout of pattern & get ready to SHORT ,
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Published at Thu, 21 Mar 2019 19:03:36 +0000
