We are now resting on the 6339-6112 trendline:
.png)
Today's candle on Daily Chart is a Hammer like form at top of a trend and this formation is called a Hanging Man pattern.And like all other formations,it has to be confirmed by next day's candle which should trade below its low and not breach its top.
And unless we open with a gap-up to negate this Hanging Man and cross this trendline,there is an equal likelihood that we may start a dip to 5790 /5664 levels to retrace the upwave 5477-6084=607
Whether tomorrow we would see beginning of this dip or not remains to be seen but structurally the price-action,by closing above 6040 has confirmed that a SHARK pattern has come into play---
.png)
A gap-up may see us keeping the upward momentum intact and testing the next trendline joining 6357-6339:
.png)
See you all tomorrow in the Facebook Group for intraday updates---
.png)
And unless we open with a gap-up to negate this Hanging Man and cross this trendline,there is an equal likelihood that we may start a dip to 5790 /5664 levels to retrace the upwave 5477-6084=607
Whether tomorrow we would see beginning of this dip or not remains to be seen but structurally the price-action,by closing above 6040 has confirmed that a SHARK pattern has come into play---
.png)
A gap-up may see us keeping the upward momentum intact and testing the next trendline joining 6357-6339:
.png)
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