Petronet Nearing a Breakout. Wedge & Ascending Traingle

9 thg 1, 2021

Energy Sector looks ready to breakout, not performed since 2018

All logic on charts.

If you consider candles from dotted line to current line it is forming a Ascending Triangle.
If you consider candles from All time high levels it is a Wedge pattern.

So ascending triangle and Large body candle of weekly close indicate a upside breakout.

9 thg 1, 2021

Ghi chú

You can even say that candle marked as 'unsuccessful attempt', was to kick out weak hands. As it had lower volumes

19 thg 2, 2021

Ghi chú

Pattern still intact.

At CMP Low risk set up.