Nice RNAM Chart on weekly
For learning purpose if you look at the weekly chart - there was consolidation and then it gave breakout on upside.
It closed above the 50 EMA from the consolidation range and then rally continued further.
It was good opportunity for buy
There was rejection from 50 EMA on weekly chart (see very long wick), next or next to next green candle was also good opportunity to buy. You can also go into lower timeframe and look at the buying opportunity little early.
Currently also it is in correction phase, so we need to wait for buying opportunity. It may go down further till 286 or may be reversed to upside. Need to wait for the chart patterns to form for buying opportunity.
It closed above the 50 EMA from the consolidation range and then rally continued further.
It was good opportunity for buy
There was rejection from 50 EMA on weekly chart (see very long wick), next or next to next green candle was also good opportunity to buy. You can also go into lower timeframe and look at the buying opportunity little early.
Currently also it is in correction phase, so we need to wait for buying opportunity. It may go down further till 286 or may be reversed to upside. Need to wait for the chart patterns to form for buying opportunity.
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