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zavier_sk
Aug 5, 2021 10:48 AM

MCX breakout retest successful! Education

MULTI COMMODITY EXNSE

Description

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.
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