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.

Kommentera:

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

Kommentera:

Pattern still intact.

At CMP Low risk set up.