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DFMGI: Bouncing off support with strong upside potential
Naranj Capital Research Desk
July 17, 2024
The index encountered a resistance around the 4,200 level before creating a Double Top pattern.
Once the pattern broke, the index dropped significantly close to the 3,730 level.
Following the formation of a Double Bottom pattern, DFMGI broke above the neckline and began to climb with higher highs and lows.
Despite trying to exceed the trendline resistance, the index failed to break through.
A shooting star candle led to a sharp correction for DFMGI, bringing it down to the trendline support area.
After some consolidation, the index began to move upwards.
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