The aim of this analysis is to determine a clear and defined entry point or buying price for the shares of SSW as the share price declined due to the impact the recent pandemic outbreak has on the global economy and which affects all the sectors and industries in the ecosystem. The upside is that it resulted in most shares losing more of their value which creates...
The pair was just pushed back by the support that has been present since 2018 October thus this show strong strength on the upward support level. Bullish positions can be taken with your aligned risk management.
Currently with a pair we are looking into a bullish movement for the next few weeks. From previous movements its clear that the pair has been moving within resistance and support zones. Therefore it is highly likely that the pair will respect the resistance and support trend-lines.
The pair has been respecting the ascending trendline support from Mid October and this trendline was a resistance prior, during September.
Now looking for a breakthrough on a recent descending trendline resistance.
This projection would fail if the price bounce back at the current downslope resistance and breakthrough the current support.
K I N G $$$ L L...
XAUUSD has been trading at levels of 1292.29 (yellow trendline) for a while, break out of this level could mean a mid term bullish towards a target of 1355.00 to form a double top and this price movement will results in a W-Formation.