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BSE Metals index

5 Aug 2020 ‚óŹ 06:23 AM

The Metals index has now clearly broken out of the running triangle that was forming for 2 months. A running triangle is a triangle pattern where wave 3 does not end at the top end of the triangle or as in this case is upward slanting and looks like a wedge. This is however a fourth wave pattern. And shows higher highs and lows, but a slow down in the speed of the advance. Now as wave 5 breaks out we are seeing some momentum return. Prices should continue from the bottom end of he channel to the top end. The is a leading sector for the day.

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