Breakout Bullish Continuation Pattern, JKSE Moves To 5,400
JKSE (Composite) moved in a small downtrend since April 2020 but this I think this move was part of Bullish Continuation that should continue a Rally from the end of March 2020 (from ~3,900 to ~4,900).
However, I still yet to see Bullish Reversal Pattern that can reverse Downtrend of JKSE that started in early 2020. In that case, the potential upward move to 5,400 doesn't mean that JKSE will reverse Downtrend.
I believe JKSE will fail to Break Resistance at 5,400 and then fall to 4,000 - 4,400. This fall will be part of the Bullish Reversal Pattern that is needed to reverse Downtrend and give birth to a new Uptrend.
For now, let see the current move to 5,400.
However, I still yet to see Bullish Reversal Pattern that can reverse Downtrend of JKSE that started in early 2020. In that case, the potential upward move to 5,400 doesn't mean that JKSE will reverse Downtrend.
I believe JKSE will fail to Break Resistance at 5,400 and then fall to 4,000 - 4,400. This fall will be part of the Bullish Reversal Pattern that is needed to reverse Downtrend and give birth to a new Uptrend.
For now, let see the current move to 5,400.
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.