Price wise , unless we close first below 5699 ( HLema ) , no momentum in hour trend which is down presently .
Day trend is up with momentum with a close above 5696( DHema ).
Week Trend stays up and so is the month .
Shorts only when , we close below the hour low ema with a 5-10 -ve crossover . Hour charts showing -ve divergence with peaks 5720 and 5735.
confirmation comes with a close below 5565 is Day ema , weakness only below this .
EW wise , I feel we have done 5 waves at 5720 and are in an irregular correction presently , with 'b' shooting over 5 today at 5735. We will see a 'c' wave if we are in irregular flat from 5720 , which should take us below 5638 . Indication of this possibility will come , with weakness in price as stated above.
Divergence : Hour charts showing -ve divergence with peaks 5720 and 5735.
Indicators :
macd ( 34 5 5) on hour TF has given a sell today . Candle pattern wise , there is a stooting star today .
Indicators , EW , Candle pattern , developing -ve divergence on hour charts.showing bearish possibility , But the prices are firm and are not showing any weakness in Day TF , Though they are down in hour TF , but are closing above Hour low ema . The min requirement is to close below the HLema which is presently at 5699.
Day trend is up with momentum with a close above 5696( DHema ).
Week Trend stays up and so is the month .
Shorts only when , we close below the hour low ema with a 5-10 -ve crossover . Hour charts showing -ve divergence with peaks 5720 and 5735.
confirmation comes with a close below 5565 is Day ema , weakness only below this .
EW wise , I feel we have done 5 waves at 5720 and are in an irregular correction presently , with 'b' shooting over 5 today at 5735. We will see a 'c' wave if we are in irregular flat from 5720 , which should take us below 5638 . Indication of this possibility will come , with weakness in price as stated above.
Divergence : Hour charts showing -ve divergence with peaks 5720 and 5735.
Indicators :
macd ( 34 5 5) on hour TF has given a sell today . Candle pattern wise , there is a stooting star today .
Indicators , EW , Candle pattern , developing -ve divergence on hour charts.showing bearish possibility , But the prices are firm and are not showing any weakness in Day TF , Though they are down in hour TF , but are closing above Hour low ema . The min requirement is to close below the HLema which is presently at 5699.
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