A corrective rally
Rain CMP 168.66
Elliott- the rally from the lows is a zig zag corrective pattern of which B is complete. From here the C leg should start that can go to 350.
MA- the conjunction of the three MA's is telling me a strong move is on the horizon.
Fibs- The change in trend is visible here. First correction should halt around the 167 zone.
RSI- with the current rally the oscillator has also changed its oscillation from the bear range to bull range.
Conclusion - In the next day or two one would get more clues of the change. The break of the trendline will definitely be one.
Elliott- the rally from the lows is a zig zag corrective pattern of which B is complete. From here the C leg should start that can go to 350.
MA- the conjunction of the three MA's is telling me a strong move is on the horizon.
Fibs- The change in trend is visible here. First correction should halt around the 167 zone.
RSI- with the current rally the oscillator has also changed its oscillation from the bear range to bull range.
Conclusion - In the next day or two one would get more clues of the change. The break of the trendline will definitely be one.
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