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Supportandresitance

USDJPY bulls are bracing for 147.00USDJPY has been navigating inside the 300-pip trading range at a 24-year high in the last three weeks. Despite the yen pair’s latest inaction, the lower low on prices joins the lower bottom on the RSI (14), which in turn joins firmer MACD to keep the buyers hopeful. However, a clear upside break of 144.75, comprising the 78.6% Fibonacci Expansion (FE) of the pair’s late March to early August moves, becomes necessary to poke a five-month-old ascending trend line resistance near 147.00. During the rise, the latest swing top around 146.00 could probe the buyers while a successful rise beyond the 147.00 hurdle might flash the 150.00 threshold on the chart. Alternatively, the 21-DMA support around 142.60 may act as an immediate halt during the USDJPY pair’s pullback before highlighting the stated range’s bottom, including the 61.8% FE level near 141.60. In a case where the pair drops below 141.60, the 140.00 round figure and July’s high near 139.40 could lure the bears. It should be noted that the sustained downtrend past 139.40 could drag prices towards the 100-DMA support of 135.70. Overall, USDJPY remains on the buyer’s radar but needs a trigger to activate the next leg to the north.
by MTradingGlobal
Bearish megaphone keeps gold sellers hopeful on Fed dayGold holds lower ground near the yearly bottom as the market braces for the Fed’s rate hike. In doing so, the yellow metal remains inside a six-week-old trend-widening pattern. That said, the quote is likely to stay bearish unless crossing the $1,715 hurdle. Ahead of that, the two-month-long horizontal resistance area surrounding $1,696 and the $1,700 threshold could test the recovery moves. In a case where the metal prices rally beyond the $1,715 mark, the monthly high surrounding $1,735 could act as the last defense for the sellers. On the contrary, the lower line of the stated trend-widening formation called megaphone, around $1,642 by the press time, restricts the short-term downside of gold prices. Also acting as immediate support is the 78.6% Fibonacci Expansion (FE) of April-August moves, near $1,619. It’s worth noting, however, that the metal’s weakness past $1,619 will make it vulnerable to testing April 2020 low near $1,572. Overall, gold is likely to remain bearish even if the Fed’s disappointment may trigger intermediate bounce.
OANDA:XAUUSD
by MTradingGlobal
ONGC - Swing Trade for 33% returnPlease refer chart for detailed explanation and Targets. Fundamental and Technical Analysis Increase in volume on weekly chart. Highest sales and profit so far. Good dividend history. Good price to buy is between 120 -130. Fundamentals are strong so no need to worry even if price goes down. If you think my analysis is helpful than please do like my idea. For future reference do follow me so that you do not miss any of my analyses. You can also check my other analysis where we achieved 15 to 20% return in short term. Link is shared below or else you can visit my profile and check all the Ideas which I have shared. Feel free to leave any questions you have in the comments! I will gladly respond to them. Hopefully this helps you out a little bit. Please make your own research before investing. P.S: This is not an investment advice. This chart is meant for learning purposes only. This is my personal viewpoint so please Invest your capital at your own risk.
NSE:ONGCLong
by RohanLakhani4
More Fall Ahead for ADANIGREEN?ADANIGREEN has fallen more than 40% from its peak. 200 Daily EMA has acted as support for the last few sessions, and it has broken this level recently. In today's session, it has tried to cross the 200 EMA level but failed to do so. If it closes below 1700 levels, seems there is more room to fall up to 1450 levels. Cheers! This is as per my Analysis. Feel free to share your view about this. Please do your analysis before trading/Investing. Happy Trading
NSE:ADANIGREENShort
by jayaprakash99
Studing Consolidation Phase This is hourly timeframe. This is how I analyze the consolidation only technically. From fibo. recent top to bottom, Nifty is taking resistance 0.38 fibonacci level. Let's pointout the short trend and understand each. 1] Nifty started consolidating 6th May 2022. It started falling, gone sideways for sometime and gave bounce back. 2] And it tested the 16400 zone. As it was a straight one side move, it was obvious it will give a retracement. 3] But it was again a one side move, this time downward, and tested the recent bottom. Here, we witnessed a sharp upmove from bottom to top and again to bottom. 4] Again from 20th May, a sharp upmove towards resistance. 5] Tested and fallback this week. 6] Bounce backed again and now near resistance zone. In all of these short term trends, we can see thick bullish and bearish candles in phase 1 and 5. Though bulls failed in these phase. Almost each phase has 1) bullish and bearish belt hold 2) bullish and bearish marubozu Except phase 2,6 no bearish candlestick of this type. These opposite candlestick patterns occurance multiple times tells us that market is now choppy, highly volatile. Outcome of analysis: In current market situation, bulls and bear are almost equally powerful. Choopy moves indicates the aggression and dominating will. This how I analyze a consolidation. Breaks it down in trend zones and study each, and keep in back of the mind each one's outcome, and try to anticipate, every possibility. And how much is the chance of taking it place by looking at bull and bears behaviour. Note : This is my own analysis and is for information purpose only.
NSE:NIFTYEducation
by AkshayAdak
Will DEEPAK NITRITE BreakOut or BreakDown ?DEEPAK NITRITE has been trading in Descending channel for the last few months. However, it is forming a Flag and Pole pattern as per weekly/Monthly charts. The stock has been trading near the channel highs and resistance levels, if it breaks out from these levels, it's likely to reach 3000 levels again. Cheers! This is as per my Analysis. Feel free to share your view about this. Please do your analysis before trading/Investing. Happy Trading
NSE:DEEPAKNTR
by jayaprakash99