So the bounce being mentioned since week-end came and seems to have surprised many--- but with oversold Daily charts and positive divergence in Hour charts, weakness in downmove had become apparent by yesterday EOD.
And with the gap-up open above the median shown in yesterday's post, beginning of bounce was indicated which got confirmed as we sustained above the weekly pivot of 5757
Yeterday's post:
Today Morning:
.PNG)
Harmonic Pattern Shark shows a target of 0.886-1.13*176 targeting 5820-5862
Hour Chart at EOD:
Buoyant global clues are likely to cause a gap-up again--- Trendline and median in above chart as well as the monthly pivot of 5806 need mention. The form taken by this upmove by tomorrow EOD would give us further clues regarding sustainability of the upmove.
.png)
Today's gap-up candle after yesterday's pinball (if not hammer) candle is signaling to a higher bounce-- particularly if we open gap-up again and donot fill the gap by EOD. And in this context, the "master candle" of 28.02.2013 and its high at 5849.9 also assumes importance.
And with the gap-up open above the median shown in yesterday's post, beginning of bounce was indicated which got confirmed as we sustained above the weekly pivot of 5757
Yeterday's post:
.PNG)
Harmonic Pattern Shark shows a target of 0.886-1.13*176 targeting 5820-5862
Hour Chart at EOD:
Buoyant global clues are likely to cause a gap-up again--- Trendline and median in above chart as well as the monthly pivot of 5806 need mention. The form taken by this upmove by tomorrow EOD would give us further clues regarding sustainability of the upmove.
.png)
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