AnkurSharda3

AnkurSharda3

On Weekly Basis: GOLD took a support at 1640 (inverted head) on weekly charts (October, 2022) after it made a peak at 2035 (August, 2020) and correcting nearly 50%. It tried to pierce the daily top of 2070 twice after peaking in August,2020. It means it made a triple top which could mean a bear market for GOLD instead it made an inverted head at 1640 and shoulder...

AnkurSharda3

On Weekly Basis: S&P 500 (SPY) completed its correction from 4800 to 3490 in its 5 Wave Down. Fibonacci 50% retracement from bottom 2300 to top 4800 ends at 3540, a support level in October, 2022. It took a support at 4115 which is a long-term horizontal support with multiple pivots on weekly charts. It looks like a fresh new Wave has just started from 4115...

AnkurSharda3

On Weekly Basis: BTC/USD completed its correction from 65500 to 16300 in its 3 Wave Down Correction. Previous top was made at 19000 in December, 2017 also a support level. Fibonacci 78.6% retracement from bottom 5300 to top 65500 ends at 16300, a support level. It took a support at 16300. It consolidated at 16300 till December, 2022 then started a fresh new Bull...

AnkurSharda3

On Weekly Basis: ETH/USD completed its correction from 4800 to 1140 in its 3 Wave Down Correction. Previous top was made at 1350 in January, 2018 also a support level. Fibonacci 78.6% retracement from bottom 122 to top 4800 ends at 1140, a support level. It took a support at 1100 which is a long term horizontal support on weekly charts. It made a double bottom in...

AnkurSharda3

On Weekly Basis: S&P 500 (SPY) completed its correction from 4800 to 3490 in its 5 Wave Down. Fibonacci 50% retracement from bottom 2300 to top 4800 ends at 3540, a support level. It fell 27% from top which looks quite healthy from long term point of view. Tech sector has taken a deep hit and looks like it has entered a bear market. It took a support at 3492 which...

AnkurSharda3

On Weekly Basis: GOLD completed its correction from USD 2070 to 1615 in its 5 Wave Down. It took a support at 1642 on weekly charts. It breached a strong support at 1700 which was a false bear move and reversed the trend immediately. Fresh new Wave has just started. One can be cautiously optimistic and it provides a good choice to buy at current level with a...

AnkurSharda3

On Weekly Basis: Dollar Index (DXY) reversed from high of 114.77 There is a support at 102 on weekly charts. DXY entered into bear cycle as there is a Death Cross where 50 DMA crossed over 200 DMA downwards. One can be cautious and it may provide a good chance of pullback in bear cycle. It is a sell from long term point of view. There is a death cross over at 200...

AnkurSharda3

On Weekly Basis: BITCOIN completed its correction from peak USD 69000 to 15500 in its Grand Wave. There is a support at 19160 on weekly charts when it made a peak in December, 2017 and also paused in June, 2022. Though it broke briefly at 15500. Grand Wave Correction 1, 2, 3, 4 and 5 is over in Bitcoin. Bear cycle looks like, it is over. First break out has...

AnkurSharda3

On Weekly Basis: Silver completed its correction from USD 12 to 29 in its Grand Wave. There is a support at 23.35 and 22.15 on weekly charts. Grand Correction Wave A, B and C is over in Silver which started in August 2021. B Wave got over in Feb'22 and C Wave got over in August,22. One can be cautiously optimistic and it provides a good choice to buy at 23 or...

AnkurSharda3

On Weekly Basis: S&P 500 currently at 4072 facing a resistance from downtrend line at 4080 as well as 200 DMA at 4055 (though breached upward briefly). It completed the final E of bear market wave at 3675. It again breached the low of 3675 and made a new low of 3583. It was about to qualify for new bear phase cycle of capitulation but could not sustain and moved...

AnkurSharda3

On Weekly Basis: Silver completed its 50% correction from USD 26 to 18. There are several resistance pivots at 22.15 on weekly charts. Wave A, B, C and D is over in Silver and Wave E should resume anytime now. Short sell is a good choice at 22 level with a target of 14 which becomes a strong buy from long term point of view. 200 DMA is also at 21.45 where price...

AnkurSharda3

On Weekly Basis: DJIA has corrected almost 50% of its down move from 34152 to 28725. It is bear market correction, usually sharp bounces. It also has resistance of 50 DMA at 31125 which also a pivot point. DJIA fell from all time high of 36800 to 29888 which was A wave of Grand cycle and corrected 61.80% to B Grand Wave at 34152, also close to 200 DMA level of...

AnkurSharda3

On Weekly Basis: In continuation to last view, S&P 500 continues to fall and may get arrested at 3272 from where it may bounce back to resistance level of 3675. Currently it may retrace back to 3675 and resume down turn upto 3272. It is moving in C Sub wave and D Sub wave may happen any time before E Sub wave resumes. It is under A impulsive wave down of...

AnkurSharda3

On Weekly Basis: Gold could enter into bear market soon as it may not hold its crucial support of 1680. Gold peaked at 2070, since then it fell upto 1681. It retraced by nearly one third at 1802 completing impulsive wave 1 and 2. Now it entered in impulsive wave 3 Down. Also, RSI is showing a death cross which happened on 1st July, 2022, 50 DMA crossed over 200...

AnkurSharda3

On Weekly Basis: SPX completed D Impulsive wave at 4325 which was also 200 DMA. It is under E Impulsive wave, in other words capitulation of stocks irrespective of any sector. It has broken 50 DMA at 4009 and support of 3998 (an important pivot), confirming the next 5 waves to come within E impulsive wave. This down trend should continue till November to December...

AnkurSharda3

ON Daily Basis: US Crude Oil is facing a strong resistance at 95.5 and 200 DMA at 96. There is a strong pattern of death cross where 50 DMA is about to cross 200 DMA which is a bearish signal. It has made a double top on 8th March and 8th June. It is on brink of down trend which may start any day from now. Warning and Disclaimer: Above prediction should not be...

AnkurSharda3

On Daily Basis: Nifty Index of India pierced the strong resistance at 16676 then 200 DMA at 17000. It signifies Impulsive Wave A of Bull run starting from 15280 and has a resistance at 18053. On RSI, Nifty is into deep overbought territory and a corrective wave ABC should start anytime. 200 DMA is now a support and 38% Fibonacci correction from 18050, the level of...

AnkurSharda3

On Daily Basis: IXIC ( NASDAQ ) is currently facing a strong resistance at 12600 and also the retracement of the fall which could be D Impulsive wave. 200 DMA is at 13570, another resistance. Level of 12600 is 50% retracement of C Impulsive wave down and currently it has closed just above at 12658. RSI made a double bottom on weekly basis and turned its trend...