- Classical Divergence has been spotted;
- Looks like profit booking is about to begin or has started;
- If you are a positional trader and are holding it, do monitor it closely and trade with strict stop loss;
- The possible target is 3628.
- If you are holding any of the above two giants, so let me me inform you that I think profit booking has started.
- RSI and MACD are supporting the above view and showing the signs of temporary reversal.
- RSI has formed negative divergence on daily time-frame.
- Time to exit for a time being, but as I said these are giants and if you are immune to such...
The unsettling global melt down, US - China Trade war, etc are likely to continue which in turn force people to shift to safer asset classes.
Now, if there was any chance for gold to break below 1500 levels, the trigger should have been the V shaped recovery in the market;
Instead gold is trying to steadily to grow its hold.
Chevron Corporation: The move up in the last couple of sessions seems to be a corrective pullback. The RSI is now at the bearish extreme zone, the candles are forming bearish patterns. The prices have also closed below the KS & TS lines. The trend down is expected to continue. A close below 115.5 will confirm the trend.
- A comparison of its previous movement and predicted movement is provided here-in-below:
- The last trend started from 2nd week of October, 2018 which lasted till March, 2019; in which the stock gave as good as 66% return
- Note that from Oct to Jan, the stock was consolidating between the 50% and 61.8% retracement level.
- The current trend begins from Feb...
American Express may face hard time here. The RSI is not displaying any bullish zeal, the bear engulfing candle at RSI FLARE levels further confirms bears have a upper hand here. The MACD isn’t able to pull into the bullish area. In short the stock is set for a further dip. 111 & 109 seems prominent as of now. For more information on how to use RSI professionally...
Currently wandering in key resistance area
Bearish engulfing candle stick
Bearish Shark pattern completed
Black box is probable reverse zone
Price rejection indicated by candle pattern
Currently at channel support so could wait for sometime for better entry ,don't jump into trade ,still support is not strong enough...
Trade Planned on 20th June 2019 using Volume Profile Driven Demand and Supply.
Trade Entry, StopLoss and Target details
Entry Planned @ 146.15, StopLoss Planned @ 145.05, Target Planned 150.65
Trade Executed on 21st June 2019 9:15 AM and Target Achieved..