Real Rally yet to start or market soon to be on crash mode?
Weekly Time frame -
* Adx is not yet above 20 but is approaching from below
* +ve DI is above 20 at 28.05
* -ve DI is below 20 at 15.77
* Price action reversed at RSI 40 (Levels 2240/2250) in October'23,
that was a breakout in June'23
* RSI closed above 60 in 2nd week of December'23
* Closing is above Trendline
* Yet to sustain above the Selling zone of 2523-2540
* Head and Shoulder pattern on weekly TF with neck line at above mentioned levels
* A clean breakout or two weeks closing from these levels, may indicate further upmove
Weekly Time frame -
* Adx is not yet above 20 but is approaching from below
* +ve DI is above 20 at 28.05
* -ve DI is below 20 at 15.77
* Price action reversed at RSI 40 (Levels 2240/2250) in October'23,
that was a breakout in June'23
* RSI closed above 60 in 2nd week of December'23
* Closing is above Trendline
* Yet to sustain above the Selling zone of 2523-2540
* Head and Shoulder pattern on weekly TF with neck line at above mentioned levels
* A clean breakout or two weeks closing from these levels, may indicate further upmove