Biocon is at crucial level when compared to nifty. If the ratio breaks it immediate resistance and gives weekly closing above, the wave may may enter in to the small correction and extend finally in Wave 5 with the target around 670.
Momentum indicator has given advance crossover for the bullish signal as shown at top.
Crude may hit more high due to the increase in demand as many countries have open the lockdown and technically the RSI divergence is visible.
The weekly close above the 30.12 will give a positive view in the analysis.
There are many types of chart.
Heikin Ashi Chart
Point & Figure Chart
In this we will study only the first three charts, which shows the true value of the security with respect to time. The other three are calculated values and do not show the true value at particular time interval.
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Symmetric triangle pattern in silver and silver to gold ratio at an important resistance. If the resistance is crossed, silver may outperformed gold in this bullish cycle.
Also, if volume supports, this can be bullish wave 5 (Elliott Wave Count)
On the contrary, if the volume does not support and this just makes a new high and return back,...