1) After forming Triple Bottom the price index is on the bullish run.
2) The rally has also break of structure (BOS) of LLs & LHs Thus conforming Bullish run.
3) The price action has given respect to Fib level 50.0% which initially acted as resistance and now support along with MA 200.
4) After brief price rejection the price action has gone into consolidation stage and is expected to breach and resume its bullish rally towards its previous high at 2000.
5) Chart Assessment suggests trade opportunity long on breach of resistance at price level at 1954 with SL around immediate HL at 1898 and TP just below the next resistance at 1989.
P.S. This is an educational assessment and guess work and not trade recommendation.
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2) The rally has also break of structure (BOS) of LLs & LHs Thus conforming Bullish run.
3) The price action has given respect to Fib level 50.0% which initially acted as resistance and now support along with MA 200.
4) After brief price rejection the price action has gone into consolidation stage and is expected to breach and resume its bullish rally towards its previous high at 2000.
5) Chart Assessment suggests trade opportunity long on breach of resistance at price level at 1954 with SL around immediate HL at 1898 and TP just below the next resistance at 1989.
P.S. This is an educational assessment and guess work and not trade recommendation.
Please Like, Subscribe and share for more Trend Analysis and Chart Assessments.