Vedanta
CMP 286
Alternate view – Bullish side
Like said several times before, EW always presents lots of probable outcomes.
One can choose based on overall macro scenario as well as market sentiments.
We’re little uncertain on commodities (metals) – on one side it seems that they should remian subdued due to US FED fighting the inflation but on the other hand , China -re-opening as well as liquidity infusion by certain country’s banks suggest that commodities may re-start their bullish phase but this all may happen in a slow manner.
We gave the bearish view in above post, here we provide the bullish view.
But there are certain conditions for this to play out ::
a)It should cross and close above the horizontal red-line
b) It should start trading and closing above 40 WEMA and later on above the level of B (pink line)
c) It should turn towards buy on MACD of all time frames
Let’s keep a track – let’s see where it goes.
Weekly Chart
Disclaimer :This post is just for learning few methods of price-patterns. Views are personal. No buy/sell recommendations. These are probability study methods and chances of success/failure depend upon various factors.
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