Short term bullish reversal - JNPR

Let's understand multi timeframe analysis for JNPR.

Price has forming bullish harmonic shark pattern and has shown strong reversal with very high volume from PRZ(Price Reversal Zone).

Weekly TF -
Price re-tested a strong demand zone in Weekly timeframe. RSI is forming bullish divergence.
snapshot

Daily TF -
Price re-tested a strong demand zone in Daily timeframe as well. RSI is showing bullish divergence.
snapshot

45 minutes TF -
Price re-tested a strong demand zone in 45 minutes timeframe as well. RSI is showing bullish divergence. Price is making ascending triangle structure.
snapshot

Above confluences suggest that price is due for a short term reversal. Long position can be taken upon breakout above triangle resistance or upon re-test after breakout.

Ascending TriangleDemand ZoneHarmonic PatternsharmonicsharkmultitimeframeanalysisSupply and DemandTrend Analysis

Also on:

Related publications

Disclaimer