Market structure and Last point of support indicated. If it break market structure then huge chances of trend reversal. We should be net long from 7500 as of now with stops nearby.
Note
Moving swiftly with no sign of bears.Note
We have a cross and trend still bullish above market structure. Close and sustain above 8000 strengthen bulls .
Break of MS can lead us to test 6000 validating H & S pattern in Daily.
7500 is Key Support Area.
Note
Some bullish activity observed short term!Note
Bullish movement continues with no sign of Bears. It did took Hourly 100 EMA as support and continues!Note
Note
Some kind of correction might be. But we have clear support indicated. No Bears till now! 8050 is the Key support area to observe short term. Target can be 8350 for longs! A test of 8000 support could also be possible.Note
Sooo, we are moving good with Bullish strength maintained well above 8000. Good for Bulls! We did reach 8336, near to our short term target 8350. I see we have a RSI bearish divergence so can expect a pull back to 8150 and sideways action between 8100-8400.
I think we can go to 8800.
8050 is new Key Support area!
Trade closed: target reached
All Targets reached! Well Trade. I will come up with next trend analysis.
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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.