Failed Rising Wedge (or any Pattern)
The failure of the rising wedge pattern is evident in the technical charts. When analyzing price movements, it is crucial to consider both price and volume dynamics.
Observing the price action on up days, specifically on 29th Dec, 1st Jan, and 2nd Jan, it is notable that the trading volume was consistently high. Conversely, during the downward price movements on 3rd to 5th Jan, the volume was comparatively lower than that observed on the up days.
This discrepancy between volume levels on up and down days suggests a weakening of the rising wedge pattern. The failure of the any pattern becomes apparent when taking into account the mismatch in volume during upward and downward price trends.
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