BOB- Melting below 177-178-- Will Trump Trendline Support?

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From Previous Update- If BOB would have sustained above 177-178- shall have travelled upside to channel top but bears never allowed BOB to go above 177-178 zone.
Almost a month have passed & BOB travelled from highs of 177-178 again into a very choppy & corrective sequence till today's close at 147.

Trading Strategy
BOB has last hope to bounce from 144-142 zone coming from trump low of 135. In coming sessions either 142-144 zone should be keenly watched or any sustained move above 150 for 30 mins can give BOB most wanted bounce.

Previous Update- Click the chart & load the bar
Trade active: 12:20 Hrs 27th Dec2016

Day's High@149.45

Turns down below 150 mark likely goes to 142-144 below 146 lows & settles down by taking support of trump trendline.
Trade active: 12:14 Hrs 30th Dec2016

Last Price@152

If BOB drops in the range 147-149 & holds -later pushes above 150 then putting latest stops one can initiate long calls- keep a watch drops to 147-149 --Then moves above 150 putting a stop of recent low can look for 177 + Target or atleast half.
Trade active: 12:22 Hrs 30th Dec2016

Last Price@152.50

Moving Above 153.50 -One can look for 155.50-156 next resistance _if holds the falls back to 147-149

Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
| LinkedIn
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
Thanks for your view on BOB.
+1 Reply
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