both major and minor pitchforks showing the least resistance path of price is to go up.
1880 to 1900 appears to be a minor resistance
bullish price action is valid even if bars go along lower line of minor pitch fork.
but expecting a good bullish bar soon towards minor resistance
price closing below the lower line of minor pitch fork - SL can be taken
Abbott India formed a good flag and pole - with all factors necessary to anticipate bullish move.
Present price can be used for call option buying and even intraday cash trade can be taken.
Sector supports too, but as over all market is negative, be quick to book the profits
SOL 1-hr. Chart Analysis
Basically, Schiff's Pitchfork have three lines, and each line starts from one of the pivot points. The lines are called the UPPER LINE (UL), the LOWER LINE (LL) and the MEDIAN LINE (ML). The pitchfork is intended as a quick and easy way for traders to identify possible levels of SUPPORT & RESISTANCE for an asset price RANGE.
This cycle...
Natural gas is posed to join the downward channel from highs. With a breakdowndown of H&S pattern, the NG can plunge to almost level of 220, which should act as strong support to take back the price to 500 levels.
Buy above 375 if it breaks. Sell below 375 level for one and only target 220.
Next only Buy level is 220.
Based on the fork, the trend continued to move down. But the bottom is near. It will reverse after breaking above the fork. The bottom can from between $10.000-$12.000 area.
