SHIBUSDT has given breakout from the bearish channel few days back and moving slowly upward with an intact trend line support. Buy on the retest of this trend line for price projection of bearish channel breakout.
Short sell gold at the confirmed rejection of upper dashed yellow line. On 1 hour chart, gold has formed a double top pattern and breaks the neckline as well.
on monthly chart gold has formed a bullish flag pattern which gives two possible price projections mentioned at A & B. However in worst case or breakdown from this flag channel will create a price projection mentioned as C & D.
Price action has given breakout from the bullish pennat pattern and it is likely that price will complete its price projection. Fib levels also indicating importance of pennat price projection as projected price is lying on the fib 2.0 level
Whenever bearish divergence appears on the monthly chart of USDPKR, it took a 5-6% correction in first instance and if the divergence appeared again successively the instrument took a correction of 9-10%. Currently one bearish divergence was appeared and price action got corrected. Lets wait for another Bearish divergence to witness a good fall in USDPKR.
A bullish flag pattern is formed on gold on a monthly chart corresponding towards a series of all times high in coming years, hinting towards a possible meltdown of all other risk on assets. However a very strong resistance zone of 2050-2076 lies ahead.
Gold is running into a long term bullish move and getting higher and higher with corrections. Tp is near 2000 completing an inverse Head and Shoulder pattern. Buy around 1870-1880 should be consider for 2000 tp.
After given breakout from the parallel bearish channel, DXY has found it self in heavy waters as it struggles to close above MA50 and subsequent horizontal resistance line. It is likely that DXY will retest lower support lines as hidden bearish divergence is also evident.
