This is a chart which is worth looking at.
Monthly chart is reflecting that it is at its demand level in monthly time frame. Most importantly it stopped making lower highs and lower lows after a long long time.
Last time stock moved to higher levels exactly from these levels and now testing the same levels again.
Monthly Chart for the reference:-
Looking at weekly chart it is riding a trendline and making higher lows as well. We can look at it other way as well .
Sellers are getting weak with every swing and are unable to push prices at lower levels.
Weekly chart for the reference :-
Now finally lets look at daily chart
Price is testing/rejecting levels of 86.50 again and again. and it is kind of making an ascending triangle which is also giving positive signs and dont forget to look at the volumes which is being generated in last few trading sessions.
Keep an eye folks Fingers Crossed.
Happy Trading.
Monthly chart is reflecting that it is at its demand level in monthly time frame. Most importantly it stopped making lower highs and lower lows after a long long time.
Last time stock moved to higher levels exactly from these levels and now testing the same levels again.
Monthly Chart for the reference:-
Sellers are getting weak with every swing and are unable to push prices at lower levels.
Weekly chart for the reference :-
Price is testing/rejecting levels of 86.50 again and again. and it is kind of making an ascending triangle which is also giving positive signs and dont forget to look at the volumes which is being generated in last few trading sessions.
Keep an eye folks Fingers Crossed.
Happy Trading.
