GRAPHITE trade ideas
turned bullish, may now moveIf it can close above 439 and remains bullish, intermediate term target is 539
small cap saga seems coming as per price/time both after such a long time graphite seems to give decent bounce across all time frame as per ichimoku system .one can buy with sl below 400 for tgt of 505-10 in coming days.
Not very clear chart!in a downward move, if it does not bounce from 462, then it might slide till 420 and if that is also broken, then 343 might also be seen. I am not expecting it to go below that as of now.
Rally about to Begin This has formed and Expanding flat after a sharp bull run , Most of you dont understand weather the End of down ward move has completed or not , so in order to make sure enter on weekly complete Green candle ,
wait for another week , you will find Good entry points
May cllose green todayGraphite should remain above 555 EOD today, 555 being the support of descending line
Should hold supportFound support at 2/1 ascending angle, after prolonged downmove. Support for Graphite exists at 496.
Bullish690 support was held on closing basis. If Graphite manages to close above 781.50, which is a resiatnce line formed due to descending 1/2 line, intermediate term target will be 880.
