Daily Chart
A lower high lower low candle with a
long lower shadow giving mixed signals. Volumes were very low
indicating market participants are waiting for a clearer picture to
emerge.This can happen only when the high of 5815 or low of 5637 is
taken out to show further direction.
The
rising wedge is still valid and so is the flag which is
forming.Resistance and support on the flag is shown to alert possible
consolidation within it.If breaks out above it then the high of 5815
may be taken out and if breaks below it the rising wedge target may be
achieved.
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Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com
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