CNX Small Cap 100 Top or Breakout Retest?
CNXSmallcap. If current week low doesn't go below 12386 and close above 12650-12680, then this week could be considered as retest. Historically there were 4 occurrences in Weekly timeframe where such fall went below previous week, index dragged down. Current week low, close and next week is crucial
1. Dec 31, '07 - Jan 07, '08
2. Jan 08, '18 - Jan 15, '18
3. Oct 11, '21 - Oct 18, '21 (1st Top)
4. Jan 10, '22 - Jan 17, '22 (Double Top after 3 months)
5. Sep 4, '23 - Sep 11, '23 (Current end of the week low, close is crucial)
1. Dec 31, '07 - Jan 07, '08
2. Jan 08, '18 - Jan 15, '18
3. Oct 11, '21 - Oct 18, '21 (1st Top)
4. Jan 10, '22 - Jan 17, '22 (Double Top after 3 months)
5. Sep 4, '23 - Sep 11, '23 (Current end of the week low, close is crucial)
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