SIEMENS: 5 Months 5-touch Support TL + Interesting Pattern! 👇🏻
Siemens has been respecting this trendline since Nov 2020. Today after touching, it formed a bullish engulfing pattern. This is a clear indication that it has again tried to take support. Also look closely, after checking fibonacci extension levels for the past 5 months, you will see the following pattern.
D = 1.618 * AB
F = 1.618 * CD and
H = 1.618 * EF.
Since, Siemens has been following this interesting pattern 3 times on this trendline, the target K for the next time is 2200 by following the similar process up the trendline. Do check the pattern yourself.
D = 1.618 * AB
F = 1.618 * CD and
H = 1.618 * EF.
Since, Siemens has been following this interesting pattern 3 times on this trendline, the target K for the next time is 2200 by following the similar process up the trendline. Do check the pattern yourself.
