The chart pattern Upward Parallel channel is seen .
Price is hovering around 20 and 50 EMA. Near term (next few days): Expect consolidation around 150–156.
A breakout above 156.80 could target 160–162, while a drop below 150 might lead to testing 148.
Key levels:
Support: 150 / 148.
Resistance: 156.80 / 160.
The View: If Price keeps hovering around moving avgs. consolidation is expected .More than average buying must be seen for price to move above in parallel channel.
Price is hovering around 20 and 50 EMA. Near term (next few days): Expect consolidation around 150–156.
A breakout above 156.80 could target 160–162, while a drop below 150 might lead to testing 148.
Key levels:
Support: 150 / 148.
Resistance: 156.80 / 160.
The View: If Price keeps hovering around moving avgs. consolidation is expected .More than average buying must be seen for price to move above in parallel channel.
Trade active
Price has touched the upper band of parallel channel and how breakdown has happened . trade is closed Trade closed: stop reached
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Disclaimer
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.