1. Its long term trend is up as price is making a higher top higher bottom formation and mid and long term EMA’s are moving upwards.
5. If we consider the previous swing from 98 to 1182 and use the fibonacci retracement tool , we can observe that the correction has occured at the 38.2% level which is a decently healthy correction for such a long running rally. The Fibonacci extension tool shows that a future high around 1650 – 1900 is possible . This gives our long term investors an upside scope of 84% to 112 % !