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Oversold RSI, $2,293 key support challenge Gold sellersGold price remains pressured at the lowest level in a fortnight while justifying the previous day’s downside break of a three-week-old rising support line, now immediate resistance. It’s worth noting, however, that the cautious mood ahead of this week’s key US data/events joins the oversold RSI conditions and an upward-sloping support trend line from early April to challenge bears around $2,2932 of late. Among the key data/events, the US Durable Goods Orders, a debate between the US Presidential Candidate Joe Biden and Donald Trump, as well as the US Core PCE Price Index, also known as the Fed’s preferred inflation, will gain major attention. It should be observed that the XAUUSD’s sustained trading beneath the 50-bar Exponential Moving Average (EMA) and bearish MACD signals join the aforementioned trend line break to help the sellers break the $2,293 key support. That said, the monthly low of around $2,286, May’s bottom surrounding $2,277 and early April swing lows around $2,267 are additional downside filters to watch during the bullion’s weakness past $2,293. Following that, the 76.8% Fibonacci ratio of the precious metal’s March-May run-up, near $2,210 will act as the final defense of the buyers before directing prices toward March’s monthly low of near $2,146. Meanwhile, the Gold price recovery needs validation from the catalysts weighing on the US Dollar. Also challenging the XAUUSD bulls is a convergence of the 50-EMA and a three-week-old previous support line, close to $2,324 by the press time. In a case where the precious metal remains firmer past $2,324, a descending resistance line from June 07 surrounding $2,364 and the monthly high of near $2,387 will be on the buyer’s radar. Above all, a horizontal area comprising tops marked since April 12, near $2,432-35, appears a tough nut to crack for the bulls. To sum up, Gold price is likely to stay depressed but the further downside needs support from fundamentals to favour the bears.
OANDA:XAUUSD
by MTradingGlobal
Raymond - Breakout Setup, Move is ON...#RAYMOND trading above Resistance of 1734 Next Resistance is at 2676 Support is at 1339 Here are previous charts: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:RAYMONDLong
by MandeepSinghKohli
AUDUSD bulls attack six-week-old on strong Australian InflationAUDUSD jumps nearly 50 pips after Australia’s monthly Consumer Price Index (CPI) for May rose the most in six months early Wednesday, up 4.0% MoM versus 3.8% expected and 3.6% prior. However, a downward-sloping resistance line from mid-May, close to 0.6680 by the press time, joins sluggish MACD signals and unimpressive RSI conditions to challenge the Aussie pair buyers. Even if the quote manages to cross the 0.6680, a 5.5-month-long falling resistance line surrounding the 0.6710 and 0.6730 mark will be the final defenses of the bears before giving control to the bulls targeting the 0.6800 threshold and the late 2023 peak of 0.6870. Conversely, the weekly low of near 0.6625 will challenge the AUDUSD sellers during the pair’s fresh fall. Following that, the 100 and 200-day Exponential Moving Averages (EMAs) might act as tough supports near 0.6590 while the monthly low of around 0.6575 acts as an additional downside filter. Should the quote remain bearish past 0.6575, the previous monthly low of 0.6465 and 78.6% Fibonacci ratio of October-December 2023 upside, near 0.6400, could lure the Aussie pair sellers. Overall, the AUDUSD pair’s further upside appears difficult unless providing a daily closing beyond 0.6730.
by MTradingGlobal
BBTC Is Rocked Hey Family, there is a one more stock Which is showing a great opportunity. Key Points:- * Forming Rectangular box Pattern in daily TF. * Expanding Wedge Pattern Form Inside Rectangular Box * From Feb 2024 to June 2024 Tested Trendline Many times. * It's Break resistance Zone and trying to Retest. * Volume Accumulation (Volume is rising). What is your view please comment it down and also boost the idea this help to motivate us. We are Certified. All views shared on this channel are my personal opinion and is shared for educational purpose and should not be considered advise of any nature. Don't know how we miss this amazing stock and forget to share this with you all family.
NSE:BBTC
by ChartSight
GRSE - Breakout Setup, Move is ON...#GRSE trading above Resistance of 1176 Next Resistance is at 1677 Support is at 892 Here are previous charts: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:GRSELong
by MandeepSinghKohli
GIPCL - Breakout Setup, Move is ON...#GIPCL trading above Resistance of 239 Next Resistance is at 313 Support is at 171 Here are previous charts: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:GIPCLLong
by MandeepSinghKohli
Adani Ports - Long Setup, Move is ON...#ADANIPORTS trading above Resistance of 1472 Next Resistance is at 2257 Support is at 1060 Here are previous charts: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:ADANIPORTSLong
by MandeepSinghKohli
The Phoenix Mills Limited - Breakout Setup, Move is ON...#PHOENIXLTD trading above Resistance of 3567 Next Resistance is at 4316 Support is at 3013 Here are previous charts: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:PHOENIXLTDLong
by MandeepSinghKohli
Inox Green Energy Services Ltd - Breakout Setup, Move is ON...#INOXGREEN trading above Resistance of 160 Next Resistance is at 245 Support is at 99 Here are previous charts: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:INOXGREENLong
by MandeepSinghKohli
C.E. Info Systems Ltd (MAPMYINDIA) - Breakout Setup, Move is ON.#MAPMYINDIA trading above Resistance of 2494 Next Resistance is at 3427 Support is at 1717 Here are previous charts: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:MAPMYINDIALong
by MandeepSinghKohli
ISGEC Heavy Engineering Ltd - Breakout Setup, Move is ON...#ISGEC trading above Resistance of 1232 Next Resistance is at 1867 Support is at 840 Here are previous charts: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
BSE:ISGECLong
by MandeepSinghKohli
National Fertilizers Limited (NFL) - Breakout Setup, Move is ON.#NFL trading above Resistance of 135 Next Resistance is at 210 Support is at 89 Here are previous charts: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:NFLLong
by MandeepSinghKohli
Karur Vysya Bank - Breakout Setup, Move is ON...#KARURVYSYA trading above Resistance of 209 Next Resistance is at 327 Support is at 136 Here are previous charts: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:KARURVYSYALong
by MandeepSinghKohli
Honda India Power Products - Breakout Setup, Move is ON...#HONDAPOWER trading above Resistance of 3419 Next Resistance is at 4448 Support is at 2390 Here are previous charts: Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:HONDAPOWERLong
by MandeepSinghKohli