NR4/Inside bar pattern emerging. Prices taking support close to 20 period VWMA. Prices may make a good rally today/ tomorrow if the level of 385.60 is taken out. Stop 379.80. The really can extend to 396 level overall.
crude oil prices are heavily falling in past 3 - 4 weeks.
we can see good quarterly results in oil-based industries.
it will also affect petrochemicals prices.
so take a watch on companies which are in this sector, or having petrochemicals as a raw material.
Forecasting corrective waves:-
Depth of Corrective Waves:-
No market approach other than the Elliott Wave Principle gives as satisfactory an answer to the question "How far down can a bear market be expected to go?"
A primary guideline of Elliott Wave Principle is that corrections tend to register their maximum retracement within
the span of travel of the...
It is been observed on Daily chart that the price action is forming a harmonic ratio pattern called Bullish Shark Pattern. Now, I have shown two scenarios of the same chart where we can see retracement as per the chart measurments and pattern.
Retracement 1 (88.6%) - can been seen near 640 levels and Retracement 2 (1.13%) can be seen at 615 levels.
It is for...