Breakout has occurred on two time scales-- daily and weekly. So there is a good lot of weightage in this study. Breakout on Weekly chart is significant. Price has reached the resistance level of Pitchfork. OI Table: Bulls are guarding 11000 Puts and increasing their position significantly at 11200 Puts which indicates that bulls are confident. Bears have reduced their guard at 11500 Calls. Day before yesterday's candle was looking like a Hanging Man but it has been nullifies by yesterday's candle which is appearing like a Hammer. Overbought indicators. Consolidation or correction will fuel up the spirit of the bulls.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.