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Gold bears need validation from $1,835 to take controlGold’s failure to rebound from $1,850 joins bearish MACD signals to keep sellers hopeful as markets await the key US inflation numbers. However, a convergence of an ascending support line from August 2021 and 200-DMA appears a tough nut to crack for bearish as RSI nears the oversold territory. It should be noted, however, that a clear downside past $1,835 will make the metal vulnerable to drop towards the yearly low surrounding $1,780. During the fall, the $1,800 threshold may act as an intermediate halt. On the contrary, recovery moves may again aim to cross an 11-week-long horizontal hurdle of around $1,890. Following that, the 38.2% Fibonacci retracement (Fibo.) of August 2021 to March 2022 upside, near $1,916, will be on the gold bull’s radar. In a case where gold prices remain solid past $1,916, an upward trajectory towards $1,980 can’t be ruled out. Overall, gold approaches crucial support ahead of the all-important US CPI and a strong reading will suggest escalating price pressure, which in turn could solidify the USD while likely negatively affecting the quote.
OANDA:XAUUSDShort
by MTradingGlobal
1
Silver refreshes three-month low, bears eye sub-$22.00On Friday, silver prices closed at the lowest levels last seen during early February while portraying a seven-day downtrend. Not only that, but the bright metal also ended up breaking the key support line stretched from mid-December 2021. The south-run, hence, gets validation to challenge a four-month-old horizontal area surrounding $21.90. However, oversold RSI may test the bears around 78.6% Fibonacci retracement (Fibo.) of December 2021 to March 2022 upside, near $22.60-55. Should the quote remains weak past-$21.90, the downside move won’t hesitate to challenge the late 2021 bottom of $21.40. Meanwhile, the corrective pullback will initially aim for the 61.8% Fibo level close to $23.50. Following that, the 200-DMA and the 100-DMA can question the optimists near $23.80 and $23.90 respectively. Also acting as an upside hurdle is March’s low near $24.00 and January’s high near $24.70. Hence, silver bears have control until prices rally beyond $24.70. Though, there’s a bumpy road to the downside.
OANDA:XAGUSDShort
by MTradingGlobal
ORIENT GREEN POWER CO LTD --- DOUBLE BOTTOM ORIENT GREEN POWER CO LTD- DAILY CHART 1. Trendline breakout seen on daily chart recently 2. Triangle pattern breakout also can seen on chart 3. Double bottom formation seen, where both double bottom candles are hammer candle, 4. After hammer candle last closing candle is bullish green which confirm double bottom and trend reversal to bullish 5. wave trend also seen double bottom formation on oversold line 6. Double Bottom form at 200 SMA support line that is also bullish indication of trend reversal RISK FACTOR. * Currently % price band ( 5% circuit limit in NSE/BSE) in such case stock can go either one way parabolic form . stop loss should be strictly placed .. profit booking trailing stop loss method more useful. BUY ORIENT GREEN POWER CO LTD @ 11.65 TARGET 15-18 stop loss 8 @@ THIS IDEA IS FOR EDUCATIONAL PURPOSE .. trade at own risk HAPPY TRADING. !!
NSE:GREENPOWERLong
by champtrade111
Bitcoin - The Bigger PictureHi, This is my second analysis of BTC in upcoming days or weeks. I have seen a lot of people saying BTC will go back to 20k, 25k and even 10k too. They are saying because BTC crashed back in 2016-17. That time, only a few people were into cryptocurrencies. We should be bullish at this moment but the current circumstances won't let the bull run happen. BTC hit first ATH on 14-Apr-2021 with a price of 65,000 USD and got back to 28,000 USD in a month. Those people who bought the BTC started selling like there's no tomorrow. Again, in the same year, BTC touched the price of 69,000 USDT and retraced to 34,000 USD but this time, it takes almost two and half month. You all know why- because people realise the potential of Bitcoin and other crypto currencies more and more support from Big corporates and Government. Now coming to the point, we are still in the Trend and I am still bullish . Thanks
Long
by endthisponzi
Gold bears approach key support ahead of US GDPGold sellers cheer firmer US dollar and a sustained break of the three-month-old ascending trend line at the lowest levels in nine weeks ahead of the key US Q1 2022 GDP data. However, a convergence of the 100-DMA and 61.8% Fibonacci retracement (Fibo.) level of December 2021 to March 2022 upside, surrounding $1,875, appears a tough nut to crack for the metal bears. Also acting as a downside filter is January’s high of $1,853 and 78.6% Fibo. level near $1,819, a break of which will make the bullion vulnerable to drop towards the sub-$1,800 region. On the flip side, recovery remains elusive below the 50% Fibonacci retracement level around $1,910. Following that, the 50-DMA and previous support line will challenge the gold buyers at around $1,938 and $1,943 respectively. Even if the metal prices rally beyond $1,943, a two-month-old horizontal area between $1,975 and $1,982 will be a tough challenge. Overall, gold bears have the controls but need validation from strong support to dominate further.
OANDA:XAUUSD
by MTradingGlobal