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SP500 WEEKLY GANN LEVELS CHART 23/01/2024 EODSP500 weekly Gann levels have worked beautifully till now. 75% level was 4695.83 worked as weekly support with one week against the trend which was up. Recent weekly low was 4682.11. Note 18 Dec 2023 low was 4697.82 above which were back in the game for further upside. Again the level of 75% was or guide to go long at 4695.83. Above this level we had a target of 4794.51 next Gann level with recent swing high as our guide at 4751.99. We cleared it in the weekly after hitting high of 4802.40. The level of 4794.51 is the price death zone so profit booking was expected at it. We retraced down to make low of 4714.82. Note that this was third weekly higher low of the crrent trend which is a strong buying point as per W. D. Gann Theory. Traders were rewarded with new all time highs if they were buyers at this level. Next target see on chart was 4843.84 which was achieved with high of 4842.07(miss of 2 points against Gann's Lost Motion of 3 points). We got contination of trend with a gap this week at 4853.42. Now note the low of this week candle which is 4844.05 near or level of 4843.84 ( a miss of 0.21 points). New all time high of 4868.41 with highest all time close on index at 4864.40. Or nrxt Target to watch on chart 4893.18 near an important level of 4900 in Gann Theory. It wold be interesting to watch the index behaviour at this level. Let the trend be your guide. Happy Trading !!!
CBOE:SPX
by kbr9121965
Xauusd: trade in the direction of the trendHello dear friends! On the last day of this week's trading session, gold experienced a gentle recovery with prices fluctuating around $2030, marking a 0.33% increase for the day. However, it also faced immediate resistance at this level, along with the activity zone of the 34th and 89th EMA. The price may retreat to $2010 if there is end-of-day news supporting the USD. Conversely, if the price successfully surpasses that resistance level, it will open up strong buying opportunities with a target of $2055.
OANDA:XAUUSDShort
by RKarina
Insights: 11thJan24 Expiry GapUp 100pts and should be greenNSE:NIFTY Insights: 11thJan24 Expiry GapUp 100 pts and should be green Open: GapUp 50 to 100 pts Strong buying pressure,probably will close in green. Past 3 instance highlighted. when it touched the trend line has bounce back bullish with gapUp. If its use full insights for you or you liked my work/analysis please Comment, Boost and Share to keep me motivated and share similar in future. Follow strict stop loss. Do your own research before investing or trading in any stock or indices or crypto. Disclaimer: This is not a financial, investment or trade advice. Its only for educational purpose. NSE:NIFTY
NSE:NIFTYLong
by jac001
Bullish Belt Emergence on XAUUSD - Potential Long Opportunity📈 Technical Analysis: A Bullish Belt pattern has recently manifested on the XAUUSD (Gold/US Dollar) chart, signaling a potential reversal and an upward price movement. The Bullish Belt, characterized by a single candlestick with a small body and a long lower shadow, suggests a strong buying interest after a period of decline or consolidation. Considering the Bullish Belt's appearance, traders may contemplate a long position. However, it's crucial to wait for confirmation and monitor price action around key levels. Set stop-loss orders below the support zone to manage risk, and target potential resistance levels for profit-taking. 🚨 Risk Warning: Trading involves risk, and it's essential to conduct thorough research and analysis before making any financial decisions. Use risk management strategies to protect your capital.
OANDA:XAUUSDLong
by Sefinsha
XRP Weekly Chart Analysis: Bullish or Bearish? BINANCE:XRPUSDT has been trading sideways within a tight range between $0.64 and $0.68 for the past few weeks, leaving investors wondering whether the crypto is consolidating for another bullish leg up or preparing for a potential breakdown. This article will analyze the technical indicators, support and resistance levels, and overall market sentiment to provide a comprehensive outlook for XRP in the coming weeks. Technical Analysis: Price: $0.6854 (as of 10 December 2023) Trend: Neutral to slightly bullish Technical Indicators: RSI: 52.42 (neutral) MACD: Histogram is above the zero line, indicating a potential bullish trend. Stochastic oscillator: Both lines are above 50, indicating overbought conditions. The technical indicators on the weekly chart present a mixed picture. The RSI remains neutral, suggesting that there is no strong buying or selling pressure in the market. The MACD histogram is above the zero line, indicating a potential bullish trend, while the stochastic oscillator is in overbought territory, suggesting that a pullback may be imminent. Support and Resistance: Support: $0.64, $0.62, $0.60 Resistance: $0.68, $0.70, $0.72 The chart shows several key support and resistance levels. If XRP breaks below the $0.64 support level, it could lead to a further decline towards $0.62 or even $0.60. Conversely, a break above the $0.68 resistance level could trigger a rally towards $0.70 or even $0.72. Fundamental Analysis: Ripple Labs: Ripple Labs, the company behind XRP, continues to develop its blockchain-based payment network. Recent partnerships with major financial institutions could drive adoption and demand for XRP. Regulation: The ongoing SEC lawsuit against Ripple Labs remains a major overhang on XRP's price. However, a recent court ruling could pave the way for a favorable outcome for Ripple. The fundamental picture for XRP is mixed. While the company continues to make progress, the regulatory environment remains uncertain. The outcome of the SEC lawsuit could have a significant impact on XRP's price in the future. Sentimental Analysis: Social media: Sentiment towards XRP on social media is generally positive, with many investors optimistic about its future. News articles: Recent news articles have been positive, focusing on Ripple's partnerships and technological advancements. Surveys: A recent survey suggests that a majority of investors believe XRP will reach $1.00 by the end of 2024. The sentimental analysis of XRP is positive, suggesting that investors are increasingly optimistic about its future prospects. Prediction: Based on the technical, fundamental, and sentimental analysis, here is a potential outlook for XRP in the coming weeks: Short Term: Trading range: $0.64 - $0.68 Potential breakouts: Above $0.68: $0.70, $0.72 Below $0.64: $0.62, $0.60 Long Term: Overall trend: Bullish Potential price targets: End of 2023: $0.75 - $1.00 End of 2024: $1.00 - $2.00 Disclaimer: This is not financial advice. Please do your own research before investing in any cryptocurrency. Additional Notes: The price of XRP is highly volatile and can be affected by a number of factors, including the overall cryptocurrency market, news and events related to Ripple Labs, and regulatory developments. It is important to remember that past performance is not indicative of future results.
Long
by UnknownUnicorn34628734
Gold Shimmers as Dollar Dips: Will it Spark a Rally or a ReversaOVERALL TREND : Gold is currently in a state of consolidation, oscillating between the support level of 1955-54 and the resistance level of 64-65. This consolidation phase is primarily attributed to the mixed economic data that has been released recently. On one hand, there are indications of a slowing global economy, which could potentially boost gold's safe-haven appeal. On the other hand, there are also signs of persistent inflation, which could lead to further tightening of monetary policy by central banks, potentially dampening gold's attractiveness. ➡️ Correlation with DXY: The correlation between gold and the US dollar index (DXY) is gradually strengthening, suggesting that gold's price movements are becoming more closely aligned with the strength of the dollar. This correlation is likely due to the fact that gold is often considered an inverse hedge against the dollar, as investors tend to move into gold when the dollar weakens and vice versa. ➡️ Mixed Investor Response: The mixed response from investors is another factor contributing to gold's consolidation phase. Some investors are optimistic about gold's prospects due to the potential for a recession and persistent inflation, while others are more cautious due to the uncertainty surrounding the global economic outlook. This indecisiveness is reflected in gold's recent price movements, which have been characterized by periods of both gains and losses. ➡️ Potential Upside Momentum: Despite the current consolidation, there is a possibility that gold could resume its upward momentum if it can break above the resistance level of 64-65. This breakout would signal a shift in investor sentiment and could lead to a further rally in gold prices. ➡️ Support and Resistance Levels: The support level of 1955-54 is a critical level to watch, as it represents a zone of strong buying interest. If gold breaks below this level, it could indicate a further decline in prices. Conversely, the resistance level of 64-65 is a significant hurdle for gold to overcome. A breakout above this level would signal a potential resumption of the upward trend. ➡️ Technical Indicators: Technical indicators are providing mixed signals for gold. The RSI (Relative Strength Index) is currently flat, suggesting that there is no clear direction for the price. The MACD (Moving Average Convergence Divergence) is converging, indicating that the momentum is slowing down. However, the Divergence indicator is showing an extreme divergence between price and momentum, suggesting that a reversal may be imminent. ➡️ Additional Observations: • The recent price action of gold suggests that there is still some bullish sentiment in the market. However, the bears are also active, and the price is currently stuck in a range. • The probability of gold rising further is high, particularly if there is a further weakening of the dollar or an increase in inflation. • Traders should closely monitor the support and resistance levels, as well as the technical indicators, to identify potential trading opportunities. Overall, the gold market is currently in a state of flux, with both bullish and bearish factors at play. Investors should carefully consider the risks and rewards before making any trading decisions.
OANDA:XAUUSD
by ManojBakale