PETRONET LNG LTDLong
Petronet Nearing a Breakout. Wedge & Ascending Traingle
Updated
Energy Sector looks ready to breakout, not performed since 2018
All logic on charts.
If you consider candles from dotted line to current line it is forming a Ascending Triangle.
If you consider candles from All time high levels it is a Wedge pattern.
So ascending triangle and Large body candle of weekly close indicate a upside breakout.
All logic on charts.
If you consider candles from dotted line to current line it is forming a Ascending Triangle.
If you consider candles from All time high levels it is a Wedge pattern.
So ascending triangle and Large body candle of weekly close indicate a upside breakout.
Note
You can even say that candle marked as 'unsuccessful attempt', was to kick out weak hands. As it had lower volumesNote
Pattern still intact.
At CMP Low risk set up.
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