NSE CUB - Price Action Analysis

Timeframe: daily
NSE CUB has been forming in the consolidation phase for 33 weeks. The price is trading below 100/200 EMA and at 20/50 EMA. The RSI of the price is 49, which can be a crucial level for a solid reversal. A flat ATR for a long time suggests that the price may break the average range.

The price is trading near the lower band of the value area. There are one major(blue) and two (green and red) minor control lines. There are nine touches on the major trend lines. Traders can also see a total of five excess on the upper and lower band of the channel. If the price sustains above the lower band, traders can set the following targets: 132 – 137 – 142.

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