I've plotted Point D at 2087 Handle, As long as Price remains above D, We are likely to test 12.5 points higher which is the 2101 area. Once we touch the 2101, I've plotted an Open = High candle which is visible on the 2 hr chart.
Therefore, 2101 is not going to sustain where price is going to hit 2111 very quickly.
Levels to observe are longs above 2094.
We have see heavy selling pressure on Gold on every top, making it difficult for traders to hold onto longer term contracts. The right shoulder measuring 0.54% as per left shoulder had completed the H&S pattern precisely drawing a top of $1294 (also 50% Fib) , Above which was a target of $1310 and higher.
From what we see is a consolidation until 22nd June, Gold...
Looking at Trading behaviour from the Candlestick pattern,
we are very likely to see a repeat of the first rectangle
Support remains at lines drawn 8064 , 8017 , 7968.
(P.S when all say low, we say "yo!" )
What we see here is the completion of the inverse head and shoulder pattern on the Daily chart, with initial resistance at
8260, above which we target 8336.
In the longer term time frame, Nifty Index has broken above Important resistance at 7950 and 8150. As long as it remains above 8150 we target 8500 and 10400
We have witnessed several Head & Shoulder formations
throughout mid 2015 until date, therefore the probability of the current
head and shoulder formation is over 90%, which clearly suggests that
the current formation of the right shoulder should continue in an
ascending manner within a range of 3.82% which is 285 points.
Therefore, 7985 - 285 Pts = 7700. (7700 to...
The S&P Index is hovering above the 2068 mark which remains a crucial support zone at the market, measuring 3 multiple tops since early 2015 the S&P index is likely to test its 4th Monthly top in early 2016 at 2105 which is very likely to test in a few trading sessions.
From measuring the distance between June 2015 lows to early 2015 tops, we have a 9.23%...