TCGI (Capital Goods) Sector Analysis
-Overall trend is bearish, recent LH & LL has been identified.
- since 2023 the trend is bullish but this is expected to form the next LH and then move to LL
- currently the price is at strong resistance at 5800, if broken then it can become a good support and price may go up till 6685, else this will be the LH and price will go down and create new LL below 5031
- currently the price is in golden area of Fib (0.618-0.382) so the chances are more that it will move downwards
- since 2023 the trend is bullish but this is expected to form the next LH and then move to LL
- currently the price is at strong resistance at 5800, if broken then it can become a good support and price may go up till 6685, else this will be the LH and price will go down and create new LL below 5031
- currently the price is in golden area of Fib (0.618-0.382) so the chances are more that it will move downwards