MOIL - Diamond Bottom Pattern

hardeepssethi Updated   
It appears that the MOIL has found its footing, indicating a potential reversal as it breaks out upwards following a period of indecision or stabilization.

The Diamond Bottom pattern initiates amidst a downtrend, characterized by the formation of higher highs and lower lows within a widening pattern. Subsequently, as the highs reach their peak and the lows begin to ascend, the trading range gradually contracts. When the price breaches the upper boundary of the diamond pattern, it signals a notable reversal, marking the onset of a fresh uptrend.

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Trade closed: target reached:
Educational Target Closed!

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