Bullish rectangle forming after an uptrend ending on 21st April 2020 indicates a probable uptrend when the rectangle is completed. Rectangle pattern denotes investor confusion regarding price, which corrects itself with a following uptrend or downtrend. Go long when price falls near 1230. Stop loss at 1195.
Comment
⋅
The analysis proved to be true. Price fell to 1250, and went as high as 1600!