TATA STEEL LTDPenjualan
Tata Steel price looks weak
Diupdate
Tata Steel price looks weak
Reasons/Traits :
• Forming bullish Gartley harmonic pattern
• Retested point B of Harmonic pattern
• Pricing making lower lows
• Price retraced and from 0.618 fib levels and got rejected at 50 EMA and heading back to 0.618 level
• Breaking 0.618 level can further see a price decline
• RSI strength is reducing and is below 50
What can happen next :
Scenario 1 : Price sustaining 0.618/0.5 levels can help price bounce back to meet 50 EMA (red line)
Scenario 2 : Price break down of 0.618 levels can take it down to touch 200 EMA (black line) or 1050 level and complete Gartley harmonic pattern and retrace back to point B (1300)
Disclaimer : This analysis is only for educational purpose and not be considered as any trading idea/tip. Please consult your financial advisor before you take any trade and we are no way responsible for your profits/losses. Thank you!
Reasons/Traits :
• Forming bullish Gartley harmonic pattern
• Retested point B of Harmonic pattern
• Pricing making lower lows
• Price retraced and from 0.618 fib levels and got rejected at 50 EMA and heading back to 0.618 level
• Breaking 0.618 level can further see a price decline
• RSI strength is reducing and is below 50
What can happen next :
Scenario 1 : Price sustaining 0.618/0.5 levels can help price bounce back to meet 50 EMA (red line)
Scenario 2 : Price break down of 0.618 levels can take it down to touch 200 EMA (black line) or 1050 level and complete Gartley harmonic pattern and retrace back to point B (1300)
Disclaimer : This analysis is only for educational purpose and not be considered as any trading idea/tip. Please consult your financial advisor before you take any trade and we are no way responsible for your profits/losses. Thank you!
Catatan
Point B of harmonic pattern is acting as strong resistanceCatatan
Hovering around 0.5, earlier test of 0.236 failedCatatan
0.5 fib levels looks very strongCatatan
Hovering around 0.5 fib levelsTrading ditutup: target tercapai
All targets hit..
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.