NIFTY CommoditiesIt is breaking out of consolidation so keep stock from this sector also in watchlist
NIFTY COMMODITIES: BULL or BEAR?NIFTY COMMODITIES: BULL or BEAR?
SUP: 4755/2034
RES: 6434
Break of 6434, we an see 11000+.
CNXCOMMODITY:DXYIn correlation flow breakdown watch: CNXCOMMODITY vs U.S. Dollar Index . With dollar near support levels possibilities of bouncing off may also force commodities to take a breather.
Nifty Commodities- Profit Booking timeNifty Commodities weekly chart showing shooting star on the upper end of the trendline. I would be booking profits here until a close above 5090.
Why Trendlines are less reliable compared to Horizontal Lines* I am always trying to avoid trend lines when Open a chart.
* You can find Support and Resistance with help of trend line but if want to initiate a trade trend lines are less reliable as compared to Horizontal Boundary.
# Thats why i always preferred Horizontal Boundary lines when initiate my tr
Commodities Needs a Healthy CorrectionNSE:CNXCOMMODITIES
Bullish divergence with macd will power up the price, but before that the harmonic impulse play will cause a correction as being expected, 3 levels of bounce based on the fibonacci supports have been selected... the target for all is initially the outer line of the pitchfork
And
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Displays a symbol's price movements over previous years to identify recurring trends.
