REC LTD FORMED AB=CD PATTERN. BULLISH IN NATURE.

The AB=CD pattern is easy to identify on charts and consists of 2 equivalent price legs.It has specific Fibonacci measurements of each point within its structure.
The AB=CD pattern is one of the most basic harmonic patterns.
Requirements of the AB=CD formation:
AB should equal CD in terms of size.
AB should equal CD in terms of time to be created.
BC should be the 61.8% retracement of AB.
CD should reach the 127.2% extension of BC.
But we do have some exceptional cases as well like There are several variations, based on CD being an extension of AB such as the 1.27 AB=CD or the 1.618 AB=CD pattern.

Now lets match these criteria with the graph of Recltd :

BC is retracing around 50%  of AB,, and CD is the extension of AB at 161.8%.

Also AB=CD meeting the parameters of time and length..

To confirm the reversal at the bottom it has shown the double bottom on the daily charts with increase in volumes .

Also ,hammer formation on weekly charts too defines the reversing point.

Indicators like MACD and RSI reflecting the  price divergence which emphasis that the prices are on the reversing point.

Open interest also increased during the previous sessions.

Here is the snapshot:

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