COLG upward movement & Resistance
Good movement observed in Scrip which crossed the Conversion Line towards upside and very near to the Base Line & EMA 44 and then subsequently also Intersected with the Base Line and EMA 44 Level. Need to sustain this Resistance Level for further upside move.
Some Resistance was expected from this level i.e. Base Line and the EMA 44 Price Level. Next strong Resistance zone to be confronted is the Kumo itself and the marked Grey zone, which are also overlapping.
Some Resistance was expected from this level i.e. Base Line and the EMA 44 Price Level. Next strong Resistance zone to be confronted is the Kumo itself and the marked Grey zone, which are also overlapping.
Note
The Scrip crossed the Base Line, EMA 44 Price Level, Grey zone and most importantly the Cloud Span B and pierced through it yesterday and retested its High and then ultimately took support right on the cloud.
Today i.e. 30-08-24, it shot directly upwards. Currently it has touched the 0.236 Fib Level, which is an important level for the scrip to takeoff from. The Chiku Span is almost out of the Cloud as well and Cloud is turning Green too.
The road is paved for the Scrip's upward move. Its next Resistance zone will be 1300-1320.
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