This analysis is for EDUCATIONAL PURPOSES ONLY AND SHOULD NOT TO BE TAKEN AS A FINANCIAL ADVICE.
Due to the nature of the charting, one may look at this analysis with a medium term time horizon in sight ( weeks/ months) .
Couple of active and valid bullish counts, yielding bullish targets, within the larger base has already been established which are shown on the chart.
Green dashed resistance line shows a level where a completion of a major base would occur, if a successful breakout on hand. These counts suggests that a major upside breakout may be on the horizon. Should this be the case, there will be larger count enabling us to count the whole pattern.
At present, price action is likely to form another small trading range within the larger basing pattern. Anticipated boundaries of this are 75 - 81.5.
Candle and bar charts should offer more insights and signals to complement this analysis.
Analysis continues...
Due to the nature of the charting, one may look at this analysis with a medium term time horizon in sight ( weeks/ months) .
Couple of active and valid bullish counts, yielding bullish targets, within the larger base has already been established which are shown on the chart.
Green dashed resistance line shows a level where a completion of a major base would occur, if a successful breakout on hand. These counts suggests that a major upside breakout may be on the horizon. Should this be the case, there will be larger count enabling us to count the whole pattern.
At present, price action is likely to form another small trading range within the larger basing pattern. Anticipated boundaries of this are 75 - 81.5.
Candle and bar charts should offer more insights and signals to complement this analysis.
Analysis continues...