Make or Break ...GAP UP please !
Was fun watching the nifty today predicted the retrace around 10O'clock then got busy with stuff.
I had a short term uptrend line for the past 11 days which it lost and now closed just underneath it trying to reclaim it.(maybe i'm right and we go down to 9700 area ,will know straight away when it opens)
The issue is we have the 200 day right here on the weekly and a lot of sell pressure coming in .
However considering the retrace later in the day and the fact that it just doesn't make sense to dump it right now i believe we continue up,Tuesdays tend to be better :)
This is quite a key area since trading above the 200 day on the weekly is really bullish , keep in mind it has to flip it and turn it into support as well by testing it.
I recon we should be clearer tomorrow in what direction we head after the monthly candle close. Maybe break 10500 and close just above it ??
I had a short term uptrend line for the past 11 days which it lost and now closed just underneath it trying to reclaim it.(maybe i'm right and we go down to 9700 area ,will know straight away when it opens)
The issue is we have the 200 day right here on the weekly and a lot of sell pressure coming in .
However considering the retrace later in the day and the fact that it just doesn't make sense to dump it right now i believe we continue up,Tuesdays tend to be better :)
This is quite a key area since trading above the 200 day on the weekly is really bullish , keep in mind it has to flip it and turn it into support as well by testing it.
I recon we should be clearer tomorrow in what direction we head after the monthly candle close. Maybe break 10500 and close just above it ??
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