It is at the PRZ of a Bullish Harmonic AB=CD Pattern suggesting a bounce/reversal provided it holds 346. It's expected reversal levels are 390 & 405
AB=CD Harmonic Patterns are derived out of specific Fibonacci Ratios which form parallel running channels appearing in the shape of a thunderbolt.
Not a trading call. Purely for Educational Purpose. Consult Financial Advisor before taking any trades.
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Pattern Name-Head & Shoulder
The pattern forming right at the top- What does indicates? Question - Market Participants Need to...
RIL is moving under an arch shaped resistance. And the green lines drawn shows that slope is decreasing after each big wave. And currently move is very much horizontal. One possible scenario could be that price can reach to highest level of arch at 2400.
Bullish Scenario: After reaching resistance to stay bullish attempts to break resistance could be possible and...
