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JUBLFOOD formation of Double BottomDouble bottom chart pattern formed in JUBLFOOD and pattern will active only after break and close above 470. It is also important to note that JUBLFOOD is bounced back from prior support level with formation of bullish candlestick called Hammer. Price is also pierced the downtrend line and currently price is consolidating near neckline. We have also found inside bar pattern near the neckline, if upside breakout is sustained then we can get sharp up move or else pattern will be invalid.
NSE:JUBLFOODLong
by Arvind_Share_Academy
AngelOne Trend support and RetracementAngel one is showing support on its Major trend line. Chart shown short term retracement at 0.5 level thrice, its not a good sign to check support for third time with lower lows. But It gets major support at its trend line. There might be an Entry option if chart break the chart resistance with decent volume. Disclaimer: The information provided here is for educational purposes only and does not constitute financial advice. Trading stocks, real estate, or other investments involves risk and may not be suitable for all investors. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
NSE:ANGELONELong
by karankumar1609
1
Gold braces for biggest weekly loss of 2024, focus on $2,270Gold licks its wounds at the lowest level in a fortnight after falling in the last three consecutive days. With this, the precious metal becomes vulnerable to post the biggest weekly fall since late September 2023. The downside bias takes clues from a clear break of a nine-week-old support line, now immediate resistance near $2,340, as well as the bearish MACD signals and steady RSI. With this, the spot Gold price (XAUUSD) is likely to drop toward the 50-SMA support of $2,309. However, an ascending trend line from early April, close to $2,294 at the latest, will challenge the bullion bears afterward. It’s worth noting that a 3.5-month-old rising support line near $2,270 acts as the final defense of the buyers, a break of which will not hesitate to welcome the bears targeting the $2,200 threshold. On the contrary, the Gold buyers need validation from the $2,340 support-turned-resistance to retake control. Even so, the 10-SMA hurdle of $2,375 and the $2,400 psychological magent will challenge the XAUUSD bulls afterward. In a case where the precious metal remains firmer past $2,400, the $2,430 and the $2,450 should allow the bulls to take a breather before pushing them toward the $2,500 round figure. Overall, the Gold price is likely to witness a short-term downside but remains in the bullish trend unless declining below $2,270.
OANDA:XAUUSD
by MTradingGlobal
USDJPY confirms inverse head & shoulders during four-day uptrendUSDJPY rises to the highest level in a week while crossing a downward-sloping resistance line from late April, now immediate support near 156.10, amid a four-day winning streak early Tuesday. In doing so, the Yen pair confirms an inverse head and shoulders bullish chart pattern by extending the previous week’s rebound from the 200-SMA. It’s worth noting that the bullish MACD signals and an upward-sloping RSI (14) line, not overbought, also keep the pair buyers hopeful. With this, the quote approaches the mid-month peak surrounding 156.80 before challenging the monthly high of around 158.00. Following that, the 160.00 threshold, the yearly high of 160.20 and the year 1990 top of 160.40 can test the bulls during their run-up toward the theoretical target of the aforementioned inverse head and shoulders bullish formation, namely 162.50. Meanwhile, the USDJPY pair’s retreat remains elusive unless breaking the neckline of the stated bullish chart formation, close to 156.10. In a case where the Yen pair drops beneath the 156.10 resistance-turned-support, it will defy the inverse head and shoulders and can quickly revisit the 200-SMA support of near 154.60. It should be observed, however, that the bullish bias remains intact as far as the pair stays beyond a two-month-old ascending support line, near 152.45 as we write. Overall, the USDJPY pair braces for a fresh record high while confirming a bullish chart formation. Any pullback, backed by the downbeat US data and softer yields, remains unimportant until the pair exceeds 152.45.
by MTradingGlobal
TREND CHANGED IN NMDC - FROM BUYING ON DIPS TO SELL ON RISE ?NMDC is engaged in exploration and production of Iron Ore along with Diamond, production and sale of Sponge Iron and generation and sale of Wind Power. This PSU stock has given great returns to investors as well as traders in last one year. Although there exists so many positive talks about NMDC's volume growth, sales growth & capacity enhancement etc. which are fundamentally good but I think trend is changed in NMDC. This stock was buy on dips since May-June 2023 but right now as per technical chart & price action, I think trend is changed from buy on dips to sell on rise. I will find opportunity to sell it on each rise until it breaks 235-240 level. So, Is it still buy on dips or has become sell on rise? Only time will tell! P.S. : This stock is on my main watchlist for a short trade.
NSE:NMDCShort
by akshit_official
4