Price action has formed a rounding bottom in daily chart and it is breaking out now. Target for this breakout is 40.5. Let us check the another rounding bottom formation in different time frame. Take the weekly chart. Yes, it is also forming a rounding bottom. It will be completed at 41 - 43 levels. If that rounding bottom breaks out without forming handle, price action will move another 20 to 30 points.
Comment:
Now take the monthly chart. Rounding bottom gets completed at 54 - 56 levels. If the breakout is successful, price action will gain another 30 to 40 points. Consult your financial manager before investing.
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