India’s Sensex displays a bullish ascending triangle above long-term support at 20200. Breakout above resistance at 21200 would signal an advance to 22000*. Declining 13-week Twiggs Money Flow indicates medium-term selling pressure typical of a consolidation. Completion of a trough above zero would indicate long-term selling pressure.
* Target calculation: 21000 + ( 21000 – 20000 ) = 22000
i think you mean to say ‘completion of a through ‘below’ zero would indicate long term selling pressure. . am i correct ? Thanks for the informative knowledge sharing inputs every time.
No. Completion of a trough (a “V” bottom) above zero would indicate long-term buying pressure.