In Weekly chart the signals released from the histograms below 0, so the fall is restricted. As both histogram
and signals were below 0 the uptrend is restricted. Now with 18 Jan. weekly close the following are visible in chart.
MAs - Price able to close above Middle which is 20 MA. It took nearly 15 weeks to achieve this from the week it fell
below MBB .
- Now the histogram opened above 0 and the signal is getting ready to enter inside it. Until then the price can try and
touch the Upper which is at 11470 +/- as of now. Once the signal goes above 0 and enters inside
the histogram, the BBs will open up by the time the price reaches near UBB and can pull the price candles upward.
- Near 80 and once the signal goes above 0, can move above 80 which is considered as highly
. The only delay expected is, IF the turn down from 80 and wait for the signals to
go above 0. In such an instance the price can come down one or two more times near 10880-837 levels before
the turn again and start moving upward.
Market is and due to above reasons the upward move getting delayed and now it should start soon. The targets
mentioned in the last post are in tact and can be achieved.
This view is purely for educational purpose and may or may not be good for trading. Anyone wishes to trade should consult with his Financial Advisor before doing so, as the writer or this website will not be responsible for any such actions whatsoever.