Daily Time Frame Analysis:
Clean breakout from 19800 level range..
Breakout:
1) parallel channel
2) Resistance zone breaks..
2) triangular formation breakout near Resistance zone
Weekly TF:
1) Took a support at previous Top of Parallel channel
2) Pattern -- Elliot wave impulse formation
reason:
a) wave D not overlap wave A territory
b) wave D is not retrace more than 50%
So wave E First target can be of 20500
3) As per Regression channel SD on 1.5 on upper band.. it shows possibility to reach 20500
Clean breakout from 19800 level range..
Breakout:
1) parallel channel
2) Resistance zone breaks..
2) triangular formation breakout near Resistance zone
Weekly TF:
1) Took a support at previous Top of Parallel channel
2) Pattern -- Elliot wave impulse formation
reason:
a) wave D not overlap wave A territory
b) wave D is not retrace more than 50%
So wave E First target can be of 20500
3) As per Regression channel SD on 1.5 on upper band.. it shows possibility to reach 20500
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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.
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.