US Market:- 1.Dow Jones :- Monthly:- RSI above 60 + All time high Weekly:- RSI above 60 Daily:- RSI Above 60 but has multiple bearish diversion Overall:- All RSI above 60 + All time high but daily has multiple bearish diversion which are some concern point. 2.S&P 500 :- Monthly:- RSI above 60 + All time high Weekly:- RSI above 60 Daily:- RSI above 60...
This chart is looking very bullish on daily as well as monthly timeframes. One can trade in commodities concerning their RR ratio. After a long up move the chart is consolidating and trying to break the resistance. Get your analysis done and have a good profit.
Now Sector to Study Daily RSI above 60 Weekly RSI above 60 Monthly RSI above 60 Resistance Level 6673 Check Inverted Hammer Formed
This chart is breaking out and here we may see some run away move in near time as other sectors have participated
It has broken out from good consolidation and hence good upmove is expected in coming weeks here. Choose the winners
After small correction, it seems again going towards upside and hence one may look into it for coming weeks.
- we will most likely test the 200 DMA before the actual recovery.
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sector has formed triangle , by seeing candles bulls are having wide spread, other side cement companies are standing on resistance showing they may breakout jk cement,jk laxsmi, ultra tech forming triangle too , ramco cement and ambuja cement all these are showing strength with scetor indices. for me it looks bullish
#NiftyCommodities - party has just begun
Analysis of an ouperformer and commodities!
The weight of the evidence remains mixed and suggests that there will be winners on the long side, winners on the short side, and a lot of stocks in the middle that aren’t going anywhere. Nifty Commodities remain below the 38.2% Fibonacci Retracement of its 2020 decline at 2,635. With momentum in a bearish range and stuck below this level, then it makes sense to...