After reversing from a Bullish AB=CD it formed a Cup and Handle pattern which is indicating continuation of rally towards 1550/1625 & 1700 which also happens to be a trendline monthly resistance as long as it sustains above 1420. Breakout gets stronger on hourly close above 1490 else one can use dips if any till 1450-1435 for an entry.
Cup & Handle Patterns are bullish continuation patterns found in uptrends (Source: Investopedia)
A cup and handle price pattern on a security's price chart is a technical indicator that resembles a cup with a handle, where the cup is in the shape of a "u" and the handle has a slight downward drift. The cup and handle is considered a bullish signal, with the right-hand side of the pattern typically experiencing lower trading volume. The pattern's formation may be as short as seven weeks or as long as 65 weeks.
Cup & Handle Patterns are bullish continuation patterns found in uptrends (Source: Investopedia)
A cup and handle price pattern on a security's price chart is a technical indicator that resembles a cup with a handle, where the cup is in the shape of a "u" and the handle has a slight downward drift. The cup and handle is considered a bullish signal, with the right-hand side of the pattern typically experiencing lower trading volume. The pattern's formation may be as short as seven weeks or as long as 65 weeks.
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