Technical : Barley Japur Spot : Closing Above 1532 is Required For further Pullback 30 Dec 2017 3:38 pm   0 Comments  |   Post Comment  |  Font Size A A A  Dated 01/01/2018 Technical : Barley Japur Spot : Closing Above 1532 is Required For further Pullback Barely Jaipur- Last Close- : Last Close 1516 The averages are in bear market structure as 55 VA is below 89 VA. The 55 VA and 89 VA are placed at 1512 and 1531. Up Trend can resume above 1531 but bull market structure can resume only when 55VA is above 89 VA. Wave b is in progress and may extend higher if sustains above 1532. Failure to sustain above 1532 in next few days can lead to a slide for beginning of Wave c. On rise and close above 1532 on sustained basis in near term can lead to a rise towards 1572-1625-1675 which are retracement level of the fall. Expect resistance at current level to 1532 and profit booking pressure can be seen from traders create long position at lower level. Exit long can be first objective and trading long can be done only on sustained rise and close above 1532. Correction to 1479-1472-1422 cannot be ruled out if prices fail to sustain above 1532 in near term. Conclusion Resistance at current level as bear market pullback is being witnessed. Uptrend resume above 1532 for bear market pullback till bull market structure is not in place.   Rate this story Rated 0.0    Post comment Comment : Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy. Name :   Email :       Post Comment		Latest Special Reports Russia's Wheat Reserves Hit Record Highs Amid Stalled E... International Grains Council Boosts 2023/24 Global Corn... Russia Reduces Wheat, Corn Export Taxes; Bans Durum Whe... USDA attache lowers India 2023/24 rice production forec... India Allows 95,000 MT Rice Export to Nepal more Top 5 News Black Matpe Polished (AP) Consolidating Above Key Supp... Black Matpe Unpolished (AP) Consolidating in an Uptren... Akola Pigeon Pea (Tur) Desi Bilty Trending Higher / Ne... Castor Oil (Kadi) Weak Price Trend / Next Support at R... Mumbai Masur Canada Crimson Container Weak Price Trend... Top 5 Market Commentary Market Wise Moong Arrivals: Supply Down By -0.48% Again... TUR COCONUT PRICES : 25 APRIL 2024 CHANA Market Wise Matar Arrivals: Supply Up By 31.82% Against...