It is the final component needed to create the handle for the Cup and Handle pattern, while forming a larger Inverse Head and Shoulders (Inverse H&S) pattern. The simultaneous formation of both the Inverse H&S and the Cup and Handle in the same area is extremely rare and powerful, indicating that the market is setting the stage for highly bullish formations for the next quarter.
The analyst reiterated the importance of this specific range, emphasizing that as long as the $3,600–$3,800 zone successfully sustains, the medium-term bullish outlook remains firmly in place. This suggests that buyers are aggressively defending this level, preventing a deeper correction from continuing.
