as long as the stock is not breaking 2150
can expect the stock to bounce
towards 2288/2386/2475
stock after a big down trend making higher high higher low
Stock rallying after a cut down to the 50 DMA.
Fundamentals and earnings are quite supportive - managed to grow margins on an increasing sales topline. It is currently under owned by institutions and not very extensively followed either. Breaking out of a consolidation, pattern on volumes
Confluence - Earnings, sales, technicals, volumes and sentiment
This recent up move is just a pullback
which did not retested out ob
it is heading back to retracement area of 0.7 and 0.5 lvl
but for short time gold is like to hover within 0.5 - 0.7 level (59665 - 59385)
and there after there is resistance above at 60150
cant fit in with good risk to reward for investing or value buying
better to avoid fomo
59970 and...
As today market trapped sellers & and ended at previous day close
So, there's no lquidity as sellers got out before market can take there money
As market ends in a consolidation means there's not enogh money to go up or down
Best probabily is market will open high tomorrow to trap buyers and gain their lequidity to come down and then take major seller money to...
Below 72025 breakout, Selling silver for targets of 71000 and 70472 for the longer-term and 71064 as an immediate target.
On rejection of immediate support, 72154-150 and the price is rallying up then an alternative short is on rejection of 72750 as resistance.
Reason for Fall - Due to the strengthening of the US dollar, metals came under pressure.
Technically, a falling wedge pattern is forming, and the market could break out at any time.
Astrologically, market sentiments are upside for the coming sessions, based on current planetary positions and movements.
Next Support between 58000- 57800
The only thing you need to remember is that in trading, incurring losses is quite common, even if you are correct in your analysis
Previously, the market had gone against us, and, considering the present market conditions, I conducted my analysis, made my entry, and secured my profits.
1. Market Trend - Bullish
2. Stock - Under consolidation
3. Price Trading at support
4. Risk is small & reward is way to good
5. Trade set up - Buy at support and sell or book at resistance
6. Every resistance, is your partial profit booking area or bringing SL at Break even
