If We see period from 5 june to today 6 july, there is a symmetrical triangle pattern formed and
today's closing above the upper trend line of the symmetrical triangle. if the price is staying on this level, it's possible to reach next resistance on 6822.
If we assess using AD Line indicator, we can see that the ADline is recording a new high which means more stocks are following this trend
But if we see using McClellan Summation index, it shows the money havent entered the market yet which make the market will retrace for some time
so is composite will go higher or retrace for some time? only time will tell
@plan_trade_repeat
today's closing above the upper trend line of the symmetrical triangle. if the price is staying on this level, it's possible to reach next resistance on 6822.
If we assess using AD Line indicator, we can see that the ADline is recording a new high which means more stocks are following this trend
But if we see using McClellan Summation index, it shows the money havent entered the market yet which make the market will retrace for some time
so is composite will go higher or retrace for some time? only time will tell
@plan_trade_repeat