1. Price during Feb 2015 to Aug 2018 (after massive bull run from Aug 2013 to December 2015) was trading in a range which is shown on the chart by drawing support and counter with arrows indicating multiple supports and resistances.
2. Price then broke out of counter on 3rd Sep 2018 and it then consolidated for seven weeks taking support on counter and subsequently showing reversal exhibited by candle closing today.
3. During the period (Oct 2016 to Oct 2017), resistance was observed at near 60 (as marked on the chart). Finally, it broke out of (60) as shown /marked on the chart. During recent consolidation of seven weeks as mentioned in preceding point no.2 above, tested once again at 60 before rising again. This implies that momentum is still intact.
4. Fibo extension indicates a target of 1335 (as shown on the chart) in next coming 18-20 months which indicates possible return of nearly 70% on investment. Initial stop can be considered below swing low /below counter at 695. This calculates an excellent Risk-Reward ration of over 1:7.
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