As of 3rd week of this month buyers are aggressively driving price higher and higher. The market sentiment is now so bulish so many retailers will also go for a long, me myself i went for a long position and closed it in profit.
When you view the weekly chart a hanging man candlestick pattern was foremed so in addition of the market hitting an important trendline, my bias is targetting the 61.8% retracement of the longed move. Market also came down to the 31.8% retracement level and went for another retest of the broken trendline and formed a double top so with all this i think the bias for this month is to the downside.
When you view the weekly chart a hanging man candlestick pattern was foremed so in addition of the market hitting an important trendline, my bias is targetting the 61.8% retracement of the longed move. Market also came down to the 31.8% retracement level and went for another retest of the broken trendline and formed a double top so with all this i think the bias for this month is to the downside.