Petronet Nearing a Breakout. Wedge & Ascending Traingle
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.
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.
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You can even say that candle marked as 'unsuccessful attempt', was to kick out weak hands. As it had lower volumes
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Pattern still intact.
At CMP Low risk set up.
Pattern still intact.
At CMP Low risk set up.
