As you can see there is some reasons to short gold. 1- very heavy overbought in every time frames 2- divergence in daily and weekly time frames 3- historical resistance since 2012 you can take profit in 1780 and 1750
Dow jones weekly time frame probable wave counts,, possible trend change in upcoming days,,can see fall of 10-15-20%
Dow jones currently in corrective wave B,, which might face resistance from current levels to 26500-27000,, view gets negated above 27500 levels,, down side if corrective wave C unfolds that index might face water fall of 10-15-20-25% from current levels,,,
Nasdaq wave counts on 240 mins time frame,, 10500 will act as good resistance as per trendline,, wait for small reversal and soon corrective wave a-b-c might unfold,,,
Nasdaq weekly time frame elliot wave counts,, wait for reversal of price till it re-enters the resistance line of rising channel patter in green dotted line,, below that if gives weekly close index might give water fall of 10-15%,,,once the condition is met and if counts are active,, maintain stoploss of recent peak..
WATCH THESE TRADE: CAN BE A POWERFUL SHORTING OPPORTUNITY SELL @ 179 FIRST TARGET 170, SL 189 TARGET IN FEW DAYS
NOTE: TRADE ONLY WHEN YOU UNDERSTAND THE CONCEPTS. TRADE WITH KNOWLEDGE FOR GOOD PROFITS!
ONLY TRADE WHEN YOU UNDERSTAND THE CONCEPTS CLEARLY. PROFIT IS YOURS, SO IS LOSS!!
NASDAQ:ULTA is signaling oversold as we approach a key support level. What makes this interesting is that we also have an RSI divergence. Very high chance of bouncing off support, however, we will wait for the market to to show us what we want to see. More downside can occur if we break the support. Keep your eyes peeled.
FUNDAMENTAL BULLISH (LONGTERM) TECHNICAL BEARISH (SHORTERM)
-rsi bear div. -fibonacci -above MA200 NOT A FINANCIAL ADVISOR.
TECHM - Above 545 - towards 595-615
From the daily chart of M&M FIN, we can confirm the uptrend and RSI confirmation to buy has been crossed. Wait for the stock to cross the trend line, as shown in the photo, after crossing it, buy the stock with the target of next resistance line. Keep an eye on it.