HUDCO is currently in a correction phase in the higher time frame,likely to find its base.
A lucrative opportunity for long positions is evident.
REASONS TO SUPPORT THIS IDEA:
*Monthly fib retracement till 0.618
*Rejection from demand zone[ marked as POI in chart]
*Falling wedge pattern
A bullish breakout above the marked point,followed by a sequence of higher highs and higher lows , could indicate a strong uptrend and potentially in high in higher time frame.
A lucrative opportunity for long positions is evident.
REASONS TO SUPPORT THIS IDEA:
*Monthly fib retracement till 0.618
*Rejection from demand zone[ marked as POI in chart]
*Falling wedge pattern
A bullish breakout above the marked point,followed by a sequence of higher highs and higher lows , could indicate a strong uptrend and potentially in high in higher time frame.
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