Gillette broke out of a multi-month resistance of around 7110 on Friday with a huge upmove. This is a good sign as it marks a rectangle breakout.
However, It is interesting to see if this breakout sustains in near term.
RSI indicates a downturn from this range as it did historically from similar levels.
As per my analysis, the 7100 levels are important to watch out for and it should act as a strong support if the price sustains above it for some days now.
However, It is interesting to see if this breakout sustains in near term.
RSI indicates a downturn from this range as it did historically from similar levels.
As per my analysis, the 7100 levels are important to watch out for and it should act as a strong support if the price sustains above it for some days now.