Why does it look like a time correction going forward?
1. Despite taking support at of the current swing, it's over 3 weeks, the index did not revert and resumed northwards.
2. is considered as a fast retracement in a climax move like this one. If the move has true energy, prices do not stay at this retracement for long. ( carry the same property)
3. If it is spending time here, means it is gathering energy and it may burst either side.
4. The index has retested (coming from 2018) long-term resistance that now has a confluence with a declined trendline tilted at 45 degrees.
5. In order to validate any it must move towards (minimum), which is more likely.
6. On 07-04-2021 we had spurt weakness in USD-INR coupled with a huge gap down in EEM .
(Something fishy is going on.....)