As we've witnessed
COMPOSITE
has 3 low on the past 4 months, Index is trying to break its key for a long uptrend phase. If Index breaks, then it forms the Inverted Head and Shoulders pattern.
The first Shoulder is 5,700 before Index rebound to 6,150. The Head formation when Index fell to its lowest in 2018 at 5,557. A steady rebound bounced back to 6,100 and again facing a strong resistance in here. Now, after bounced back to the second Shoulder at 5,700 back in mid-August, is the Index ready to form Inverted Head and Shoulder IF able to break 6,100 for the second time?
We should pay attention to Blue Chips shares when this happened.
COMPOSITE
has 3 low on the past 4 months, Index is trying to break its key for a long uptrend phase. If Index breaks, then it forms the Inverted Head and Shoulders pattern. The first Shoulder is 5,700 before Index rebound to 6,150. The Head formation when Index fell to its lowest in 2018 at 5,557. A steady rebound bounced back to 6,100 and again facing a strong resistance in here. Now, after bounced back to the second Shoulder at 5,700 back in mid-August, is the Index ready to form Inverted Head and Shoulder IF able to break 6,100 for the second time?
We should pay attention to Blue Chips shares when this happened.