MCX breakout retest successful!
Resistance line is retested as support as demand has increased. From couple of months it’s been moving in that channel now it’s time for a long.
Entry: above 1600
Target: 2000
SL: 1450
(It’s not an investment advice, do at your own risk)
Key points:
When a resistance is converted as support it means there are more bulls than bears amd demand for that has been. This can be a sign of bullish swing.
We should also look for another signs like candlestick pattern or look what fibonacci says.
Entry: above 1600
Target: 2000
SL: 1450
(It’s not an investment advice, do at your own risk)
Key points:
When a resistance is converted as support it means there are more bulls than bears amd demand for that has been. This can be a sign of bullish swing.
We should also look for another signs like candlestick pattern or look what fibonacci says.
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