The ETF has made a Bullish Engulfing Pattern, it's a Reversal pattern. Next day the stock opened with a gap up which was followed by two candles. In western it is known as Window (marked as a rectangle on the chart).

There are some conditions in window which need to be followed, following are the conditions.

1. If the security has opened at a gap up the security should not move within the gap.

2. If the security doesn't move inside the gap within 2 day we can expect the movement to be strong.

The Gap made will work as a strong support for the ETF.

MACD is showing a crossover below 0 which is also suggesting strength.

BUY

Jul 23 2021