Trading sentiment on the floor remains quite depressing as markets await Fed Chair Powell’s half-yearly testimony. However, the bullish chart formation on the four-hour play keeps Brent oil buyers hopeful, despite the latest pullback from $66.76. It should, however, be noted that the oil bulls need to stay away from $63.40 and $62.90 supports comprising 50-SMA as...
Long-term Investors: Copper has broken March 2020 resistance trendline, and true resistance breakout is a clear signal to buy. Target prices for long-term traders: 760 - 800+ Intraday Traders: But at present, MCX copper can pullback to the previous resistance line to continue an uptrend. So, intraday traders can sell for the following targets: 690 -...
Sell crude oil at 4568 stop loss 4593 Target 4473
USOIL post market analysis on 22-02-2021 Disclaimer : All charts are purely for educational and information purpose only. Invest or Trade at your own risk.
Description: The counter XAUUSD is moving in the parallel channel. The movement of the price is between the price range of 1769.13 and 1960.41. Specifying a particular trend is very difficult when the counter is in the parallel channel. Today the counter has tested the support baseline of the channel and there is no indication for a breakout. The market’s...
USOIL LONG OPPORTUNITY TARGET WILL BE 61 $ BECAUSE USOIL HAVE TAKEN STRONG SUPPORT AT 59$ Lets Wait and watch Cheers!!!
Gold failed to continue the uptrend so we're in a large WXY structure. Minimum target is the .618 extension of W at $1533 USD but even a price of $1200 USD is possible again. Time will tell.
USOIL Intraday levels on 22-02-2021 Disclaimer : All charts are purely for educational and information purpose only. Invest or Trade at your own risk.
If Natural gas close above the resistance (3.032) in daily time frame we can expect bullish. If Natural Gas break the trend line we can expect bearish. I will update.
Midterm forecast: 54.40 is a major support, while this level is not broken, the Midterm wave will be uptrend. Technical analysis: While the RSI uptrend #1 is not broken, bullish wave in price would continue. A peak is formed in daily chart at 64.83 on 02/18/2021, so more losses to support(s) 58.65 and minimum to Major Support (54.40) is expected. Price is...
Midterm forecast: While the price is above the support 1762.05, resumption of uptrend is expected. We make sure when the resistance at 1875.15 breaks. If the support at 1762.05 is broken, the short-term forecast -resumption of uptrend- will be invalid. Technical analysis: While the RSI downtrend #1 is not broken, bearish wave in price would continue. A peak is...
#niftyenergy Can retrace up to 18200-18180 or can be an up move from here...
As expected, gold has started collapsing after a breakout of the test level. Will it keep falling? First, click here and read the previous article on gold: When Will MCX Gold explode? I have written in clear words, " If gold remains below 47296 levels, it will come down to 0.618 value of Fib retracement. Targets: 46600 – 46000 – 45660 – 45200 ". Gold has...
Crude levels ...22/02/2021 (1hr candle)
In technical viewpoint since Aug 2020 Gold continued traded lower low and lower highs and it does create a descending channel on daily chart. Staring of this month Gold start traded below 200SMA on daily chart after a long period, which is very bearish signal for Gold. If we see chart properly we may see a another descending channel within short range which may...
Currently at a do or die level.., monthly closure below 1750 can cause neck line breakdown and further fall upto 1680.., any break below 1680 can take it upto 1500.., till then.., till 1750 is broken buy the dips a good bounce anytime possible..,