- Bullish symmetrical triangle breakout
- Stuck at 50-DMA level of 1125.24
The suggests the break from symmetrical triangle could be short lived. The only fact that remains in favor of bulls is the daily , which is well short of overbought territory.
Overall, we are likely to see range bound action with a downside bias.
move would gather pace after prices see a day end close above 1177 (July 14 high).