PEL forming doji pattern at 38.2% Fibonacci levels
PEL has been a slow runner.
Currently on a monthly chart basis it is forming a doji kind of pattern at the Fibonacci levels of 38.2% which is based on the high and low of the chart .
Expecting some trend turnaround on this one atleast for short term.
With such a pattern I personally expect 2 levels up on the Fibonacci levels which are 1042-1211 on a monthly basis. If good strength is shown in the chart then the levels of 1400 is not far away if overall market behaves positively. It's a monthly chart so will take quite some time to reach.
Base of 738 and 660.
No recommendations, just my view based on chart pattern that is currently formed.
Currently on a monthly chart basis it is forming a doji kind of pattern at the Fibonacci levels of 38.2% which is based on the high and low of the chart .
Expecting some trend turnaround on this one atleast for short term.
With such a pattern I personally expect 2 levels up on the Fibonacci levels which are 1042-1211 on a monthly basis. If good strength is shown in the chart then the levels of 1400 is not far away if overall market behaves positively. It's a monthly chart so will take quite some time to reach.
Base of 738 and 660.
No recommendations, just my view based on chart pattern that is currently formed.
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