Nifty has been trading amazingly well since last months, after a long 1 month upward move it is on the important level of resistance .
If we look at the RSI on the hourly chart it looks like that the RSI is on the multiple negative divergence level .
Nifty has broken its nearest support level of hourly chart which it was trying to protect since last 7 days .
Also...
Although we don't have a proper price of MCX GOLD in trading view, but the charting structure is sufficient to analyse the current market structure of it .
if we look at last two months of gold , September was full of amazing sell-off with the long consolidation of October month , which looks like at it its completion .
consolidation zones: Support- around 37800...
Well if we look at the its daily chart, its clearly visible that it has closed by breching a very strong consolidation area at the top and the breakdown is also supported by the clear triple negative divergence in RSI and also it has closed below the zero line of bollinger band which it was supporting while it was in consolidation , and if we look at ADX the...
