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DOLLEX 30 - (Daily & weekly Study)


DOLLEX 30 DAILY


On daily chart DOLLEX 30 Index has completed 78.6% retracement at current level and on smaller time frame Index is forming descending triangle pattern in the rage of 3600-3000.

The daily descending triangle pattern suggesting, index is holding triangle lower support level. From past few days index is consolidating near lower triangle support in rang of 3150-3235.
 
In upcoming period we are expecting to Index to bounce back from current level to upside 3300/3400 levels.

RSI: On daily chart RSI indicator is showing positive divergence



S&P DOLLEX-30 DAILY CHART



S&P DOLLEX-30 WEEKLY CHART



DOLLEX 30 WEEKLY


On long term weekly charts Index has recently tested lower level of descending triangle pattern with weekly positive candle. From the long term weekly chart index is showing a strong multiple supports of previous tops & lower level of triangle pattern (Mentioned in Above Chart).

As per the weekly data statistic prices are consolidating in very narrow range, any strong weekly positive candle will be first early reversal indication in Index and we can see fresh uptrend in Index.   

RSI: Weekly RSI has taken support near 40level suggesting strong bull strength in coming period.   




Disclaimer: All information given here is largely based on technical analysis which is highly dynamic in nature and relevant only at a particular point of time. Users are advised to pursue these recommendations only at their own risk and first consult their personal investment advisor when making investment decisions. We are not liable and we take no responsibility for any loss that you incure by trading/investing on our recommendations. these study are posted for educational purpose only.

























Disclaimer:All information given here is largely based on technical analysis which is highly dynamic in nature and relevant only at a particular point of time. Users are advised to pursue these recommendations only at their own risk and first consult their personal investment advisor when making investment decisions. We are not liable and we take no responsibility for any loss that you incure by trading/investing on our recommendations. these study are posted for educational purpose only.

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