Bsoft bull traders are in a buy-or-die situation


The price moved back inside the downtrend channel despite the bulls' best efforts to break it, due to selling pressure. The price was then successfully pushed out of the channel by the bulls again, and it is currently trading close to a strong supply area.

Bull movement could occur if supply zone is breached. BSOFT may move sideways or downward if this zone is not broken and continues to function as a strong supply zone.

I genuinely hope that you will find my analysis useful. If you believe this analysis is beneficial, please Like it and follow me on TradingView for more analysis like this.
Bull movement could occur till 340-350 and so on, if supply zone is breached
Today, the price has breached the weekly supply zone and reached a high of 334.5, which is the current day's peak and a key level. At 334.5, the price is experiencing resistance stemming from both the daily and weekly supply zones. Presently, the current market price (CMP) stands at 328.5.
In my analysis, I previously mentioned the possibility of a bullish movement if the supply zone level of 315 was surpassed. On May 9th, I anticipated that the price could rise to the range of 340-350. Eventually, on May 16th, the price broke through supply zone level, and as of today, the current market price (CMP) stands at 351.

If you take a look at the chart provided below, you'll notice a beautiful bullish candle in the monthly candle of May in monthly timeframe.


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.