@imkeshav, Absolutely possible. Good call. It would indicate1 the formulation of consolidation triangle with a steeper angle, with support line at (A), (C), and (E), and resistance line from the highest peak to (B), (D), and beyond. If you look at the MACD histogram on the 1 day chart, you can see the last bull cycle had little strength; they would have to stage quite a comeback to completely break this fall at this stage, but bulls may be slowing the fall in the medium term such that the journey from to where-ever (D) is takes the power out of the fall.
userbeauty
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still strong at this point?
olivernash
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@userbeauty, Not enough for me to sleep on it. I'm out now overnight and will see if any patterns are clear by morning.