ELGIRUBBER Bullish Momentum
1) Monthly at the verge of moving into uptrend.
2) Weekly has broken out of the 2 year old major consolidation phase after an uptrend. This has happened in May and then still consolidated for 3 months, and the last week has broken out of all the major consolidation zones.
Due the longer consolidation period, the breakout would be strong enough.
Has the potential to reach ATH of 70 levels. Good entry zones available with small SL to ride till 60 and 70. Do check out and comment. Happy trading!
The demand levels marked can be used for entry and the supply levels for target.
2) Weekly has broken out of the 2 year old major consolidation phase after an uptrend. This has happened in May and then still consolidated for 3 months, and the last week has broken out of all the major consolidation zones.
Due the longer consolidation period, the breakout would be strong enough.
Has the potential to reach ATH of 70 levels. Good entry zones available with small SL to ride till 60 and 70. Do check out and comment. Happy trading!
The demand levels marked can be used for entry and the supply levels for target.
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