The strong rebound from 11268 (38.2% Fibonacci level of retracement from 12229 high to 10674 low) gained affirmation 11452 (50% Fibonacci level) gave green signal and the tech index advanced towards the next leg higher 11635 reaching out to 11615 Going forward, reaction to 11635 resistance should be closely monitored as some pull back towards 11550 and, if some...
WTI Crude Oil Futures 🛢️Weekly Review It's been a long time since WTI has been reeling under 100 Day SMA and now a short term Fibonacci retracement of $93.74 high of Nov 2022 to $70.10 low of Dec 2022 shows stabilization above 38.2% level at $79.14 and also horizontal resistance zone of 81.50 which is close to 50% Fibonacci level at $81.93 A decisive acceptance...
Gold's closing above $1896 for the 2nd consecutive week indicates continuation of Bullish Trend. For Monday opening, Gold needs to hold above $1920 support which will help it to continue with its upside momentum reaching $1935 again above which $1943 sits as next Resistance cum Target. Weakness below $1920 may be seen as willingness to decline to $1912 which is...
Fibonacci Extension measured from $4.75 low to $7.60 high shows that $2.989 level coincides with 1.618% extension and on this basis we think that the current bearish drop can pause at $2.989 and start a short term rebound towards resistance zone of $4.75 The rebound rally will have several twists and turns en route to $4.75 destination. However, this is our...
Strong Momentum driven rally took Gold above $1920 and Tested $1937 While uptrend continues to dominate price action, any pullback towards support areas of $1923 and $1915 will be used by Buyers to add value long positions for reaching next leg higher $1943 and extended Target $1956 Strategy: Buy Between $1923-$1918 SL $1900 Take Profit ...
EUR/USD Pair is seen Trading sideways with a Bullish Bias. Buying around Support looks good for next Leg Higher seen at 1.0920 Strategy: Buy Between 1.0788-1.0818 SL 1.0748 Take Profit 1.0920
Gold Keeps Fluctuating Between $1896-$1902 Support and $1928-$1925 as Markets Await Triggers. Initial Jobless Claims can Break the Range and Lead to Further Targets. Buying From Support Range $1902-$1896 for Upside Targets $1916-$1922-$1928-$1932 may be a Good Strategy. If Gold Finds Enough Buyers, Current Momentum can Take Gold to Next Leg Higher $1943 &...
Gold broke through recent $1881 high and reaches $1886. A calm market witnesses range bound price action ahead of crucial economic data which is supposed to bring decisive trigger for next move. As long as $1878 is not violated, Gold is all set to break above recent narrow price range and test $1896 followed by $1900-$1906 Sustained break below $1880-$1878 can...
Sustained Break Above 11070 takes Nasdaq higher towards 11268 and 11452 Failure to clear above 11268 and Sustained Break Below 11180 pushes prices down to 11070 and 11000 below which decline can extend to 10900 and 10800
A sustained break below $73.80 can push prices down to $72 and $71 Consolidation above $73.80 can help Oil rise again towards $74.80 followed by $75.30 and extend to $77.10
As long as Gold prices sustain above $1867, a resumption of uptrend is very likely which requires prices to clear $1878 to reach swing high $1881 Further, price acceptance above $1881 indicates buyers presence for next upleg $1896 A sustained break below $1867 followed by $1862 will prompt a quick break down for $1858 and $1852 which is acceleration point for...
Nasdaq has been in continuation mode with bullish rebound. Sustained break above 11100 opens way for retest of 11270 followed by 11380 Any pull back towards 11900 and 11800 may be seen as value buying for a greater Risk vs Reward while 11700 as Daily closing should work as alert for deeper corrections.
Gold continues with Bullish rally and tests $1881 followed by some consolidation below the high which can ease prices towards $1868 and $1860 and a continuation of bullish uptrend is aiming for psychological handle of $1900 with $1896 as a resistance en-route.
Gold faced correction from $1865 high resulting in drop to $1825 support level followed by close at 1832.80 As long as prices sustain above $1825 support we expect resumption of uptrend that initially targets $1845 and if Gold finds enough buying volume above $1845 , momentum can accelerate towards swing high $1865 Failure to hold above $1825 can lead to lower...
Gold is seen in sideways move and consolidating below $1855 after some retail profit booking pressures pushed prices down to $1843. Price action is showing minor downward bias settled within descending channel which often breaks to upside. We expect uptrend to resume from support areas aiming retest of $1855 followed by swing high $1865 A strong build up above...
Bullish Momentum tested $1865 and consolidates below this level. As long as $1865 is not cleared, we may witness some momentum distribution causing some drop towards support areas of $1852 below which $1846 and $1832 are seen as support. If selling continues, expect retest of previous week close of $1824 followed by 5 week EMA $1813 and 100 week SMA $1798 On the...
Gold found strong acceptance above $1824 and breached $1842 Fibonacci Resistance to test $1850 Short term consolidation may witness minor correction towards support zone $1824 If selling extends below this level, expect drop to $1812 which is critical for continuation of bullish momentum as breaking below $1812 pushes Gold down to $1800 before any new attempt to...
Gold has been trading with a Bullish bias supported by psychological base above $1800 and seems to have formed support base around $1810-$1815 Since this is the last Trading day of calendar year, we may see some added volatility despite absence of institutional traders volume participation. Technically, failure to close above $1827-$1833 will keep Gold vulnerable...