Over the past few days, NSE:BANKNIFTY has experienced a downtrend, presenting an opportunity for traders to analyze a potential reversal through the formation of a rectangle pattern. The rectangle pattern is a horizontal consolidation pattern characterized by parallel support and resistance levels. It indicates a period of market indecision, where buyers and...
🔹NCLH is in a rising trend channel in the medium long term. 🔹Rectangle formation between support at 12.56 and resistance at 17.87. 🔹Break upwards through 18.00 dollar will be a positive signal. 🔹Short term momentum is strongly positive with RSI above 70. 🔹Overall assessed as technically slightly positive for the medium long term. Chart Pattern; 🔹DT - Double Top |...
🔹SPX is in a rising trend channel in the medium long term. 🔹SPX moving within a rectangle formation between support 3946 and resistance 4384. 🔹Upward breakthrough of points 4300 means a positive signal. 🔹Overall assessed as technically NEUTRAL for the medium long term. Chart Pattern; 🔹DT - Double Top | BEARISH | 🔴 🔹DB - Double Bottom | BULLISH | 🟢 🔹HNS - Head &...