SILGO – Can we see change in Trend ??

15 apr 2022

SILGO

Time Frame – Weekly

Technical Observations –
1) Falling wedge pattern and channel pattern (Yellow area) form
2) Regular bullish RSI divergence seen
3) Now scenario 1 – Price may break the resistance trendline of both the pattern or
4) scenario 2 - Price may break the resistance trendline of wedge pattern and touch the channel trendline resistance and come down to form the right shoulder to complete the inverse head & shoulder pattern
5) RSI trendline break seen
6) High volume activity seen

Resistance –42.20/47.80/56/66.60/80/94

Support – last swing low 24.65 / 18

DISCLAIMER: NCFM Certified Technical Analyst. I am not SEBI registered analyst. All posts are for educational purpose only. I am not responsible for your any loss or profit. Consult your adviser before taking any trade. I help people to learn technical analysis & charts reading.