LOTCHEM - Intraday Analysis - 12-01-2024

Sarfaraz Ahmad
Jan 12, 2024

Primary Structure: Bearish Triangle

Primary Trend: Bearish

Current Wave structure: Potential Zigzag OR Triangle in red wave "(E)".

Expectations: A structure in three waves may be expected to unfold the red wave "(E)". The rise from the low of the red wave "(D)" is aggressive and can assumed as part of the final wave of the triangle in blue wave "B". Since we are unfolding the wave "E" a triangle may also be expected if it prolongs.

Recommendation: Stay aside

previously :

previously :