A little more than a year back, in March 2017 to be precise, the Bank Nifty broke out of a key continuation chart pattern at 20,500 with a solid upside target of around 6900 points, which was realized in late January this year.
WTI Crude is up about 4 percent this year after topping $66 a barrel earlier in January, the highest since December 2014. Since then, prices have been oscillating in the $58- 64 per barrel for more than a month now.
Manufacturing PMI in the US rose to more than 2 year highs in June on the back of rise in employment, new orders and production. The monthly data released by ISM came in at a better than expected 57.8 from 54.9 in May. However, the index measuring inventories slipped to a 3- month low.
Every trader has a unique trading style and preference when it comes to analysing charts. However, it can be quite perplexing when it comes to choosing charting softwares, with the likely exception being FX traders.