• Yesterday, the SPX broke the resistance at 3,911 for a brief moment, but by the end of the day, it lost momentum, couldn’t close above it, and it did a Shooting Star candlestick pattern;
• This could be just a pullback to the 21 EMA, but the fact it found a resistance at 3,911 again it is not good for the bulls;
• We warned about this on my previous SPX analysis...
Market Outlook:
NIFTY is searching for support from where it can launch ahead in the global volatile atmosphere where Fed rate hikes are decimating the markets. Macros for India remain strong and in 2023 we should see Nifty hit the target zone in excess of 19400/19500+ but for now till we find a proper launch pad for Nifty it will remain weak or in consolidation...
$NAS100USD : My bias is still bearish. i waited for a bit more price to develop and saw that price retested a previous major exhaustion area. So i went back for sells and is looking for a break of major exhaustion area of 10803.8
Last month (July) closed with a bearish Gravestone DOJI candle, the length of the tail suggests strong selling pressure should be expected in the months ahead.
Take a look at that peculiar structure on GBPUSD.
1.207 - 1.2137 area, first, was a strong resistance.
After the breakout it turned into support and was respected many times,
then, it was broken again and turned into resistance from where a nice bearish move initiate the first week of this year.
And now, one more breakout.
So the broken structure is the...
NSE: SAFARI is closing with a bullish candle supported with volumes.
Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days.
The stock has been consolidating for the past few days which is indicating demand.
One can look for a 8% to 11% gain on deployed capital in this swing trade.
The...
Trade Idea: Selling AU200AUD
Reasoning: Double top formed in 1hr chart. Re-testing the neckline
Entry Level: 7097.6
Take Profit Level: 7006.7
Stop Loss: 7127.6
Risk/Reward: 3:1
Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical...
As we can see price is near the daily major resistance zone and we are looking for a dump and fall here like the red arrows mentioned on the chart.
Targets and major supports that can stop the dump are also mentioned on the chart with price labels.
DISCLAIMER: ((trade based on your own decision))
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