Testing the treandline/neckline with Inverse head and shoulders
In weekly timeframe, there is an Inverse H&S pattern formed from Feb'22 till now..
it looks good in consolidation btw 5200-6900 range by taking historical support treandline at head bottom.( EMA 20/50/100 is around shoulder bottom -- ~6400 as immediate support too)
So, this month would be key to get sustain around neckline and breakout towards 8500 range for next 6-9 months.
Note: this is just educational purpose and not for recommendations at all.
it looks good in consolidation btw 5200-6900 range by taking historical support treandline at head bottom.( EMA 20/50/100 is around shoulder bottom -- ~6400 as immediate support too)
So, this month would be key to get sustain around neckline and breakout towards 8500 range for next 6-9 months.
Note: this is just educational purpose and not for recommendations at all.