Tata Steel price looks weak

2021년 9월 24일

Tata Steel price looks weak

Reasons/Traits :
• Forming bullish Gartley harmonic pattern
• Retested point B of Harmonic pattern
• Pricing making lower lows
• Price retraced and from 0.618 fib levels and got rejected at 50 EMA and heading back to 0.618 level
• Breaking 0.618 level can further see a price decline
• RSI strength is reducing and is below 50

What can happen next :
Scenario 1 : Price sustaining 0.618/0.5 levels can help price bounce back to meet 50 EMA (red line)
Scenario 2 : Price break down of 0.618 levels can take it down to touch 200 EMA (black line) or 1050 level and complete Gartley harmonic pattern and retrace back to point B (1300)

Disclaimer : This analysis is only for educational purpose and not be considered as any trading idea/tip. Please consult your financial advisor before you take any trade and we are no way responsible for your profits/losses. Thank you!

2021년 10월 4일

노트

Point B of harmonic pattern is acting as strong resistance

2021년 10월 29일

노트

Hovering around 0.5, earlier test of 0.236 failed

2021년 11월 3일

노트

0.5 fib levels looks very strong

2021년 11월 12일

노트

Hovering around 0.5 fib levels

2021년 12월 10일

거래청산: 타겟 닿음

All targets hit..