Yesterday's post had a few prominent points:
1. Harmonic Pattern Shark giving a minimum target of 0.886x176=5820;
2.Monthly pivot 5806-- close above it would indicate strength of upmove;
3. High of Master Candle of 28-02-2013 at 5849 is significant and its breach would confirm longevity of upmove.
First two points were fulfilled and today's high is likely to be breached in next few sessions again. I am expecting a dip now to retrace 5664-5829 Impulse:
50% retracement to 5745 is quite probable
Global clues of tomorrow morning would decide whether the abovementioned retracement would begin alongwith the opening or after a while(though even a strong opening is unlikely to go past 5849 in current Impulse).
Day Chart:
Hour Chart:
.png)
5 min chart:
.png)
1. Harmonic Pattern Shark giving a minimum target of 0.886x176=5820;
2.Monthly pivot 5806-- close above it would indicate strength of upmove;
3. High of Master Candle of 28-02-2013 at 5849 is significant and its breach would confirm longevity of upmove.
First two points were fulfilled and today's high is likely to be breached in next few sessions again. I am expecting a dip now to retrace 5664-5829 Impulse:
50% retracement to 5745 is quite probable
Global clues of tomorrow morning would decide whether the abovementioned retracement would begin alongwith the opening or after a while(though even a strong opening is unlikely to go past 5849 in current Impulse).
Day Chart:
.png)
.png)
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