Interesting Story being written on BNF Daily Chart !
Let’s analyze from Bird’s Eye View.
Weekly TF shows, descending Triangle Pattern on a week from 19th Dec 22. It will be interesting to see whether we move out of this triangle range this week or consolidate further. If we stay above & break towards 47800, this week will invite some firecrackers on upside! 43700 level will be a keen push back by Bears! Let’s look at it in Chart below.
On Hourly TF, BNF has given us 2 hammers, however Volume is a concern compared to previous ones. If it breaks 43900 level with volume on Hourly chart, Bulls will have party time again tomorrow. On the other had, if they fall below Friday’s low, it would be a reason to worry as we might see 42K level being broken. As of now, Bulls are looking strong the way they have arrested fall over last 2 days.