It is been observed that the price action moving up in a trend and now it breaks an important resistance breakout at 545 levels. Now, it shall reach further up to next resistance levels.
As observed on weekly chart, the price action breaks out from a consolidated down-trend channel, indicating shiftinh of dominance power on prices from bears to bulls. Now Bulls shall reach out for previous resistance levels at 550-560 levels.
The price action breaking out from a consolidation between trend lines or horizontal channel. I believe if the buyers manage to close prices above 500 levels then we might see a long upside move.
Kindly confirm the breakout at the end of trading session to initiate trades for tomorrow.
Hope you trade with care, Thanks for your support.