The area between 2324 and 2307 is identified as a significant support zone (order block). Next Order Block: The area between 2361 and 2357 is the next significant resistance zone (order block). Bullish Scenario: A bullish pin bar candle has formed, There is a fair value gap between 2342 and 2328. If the FVG is filled without significant rejection, the price may...
The area between 2324 and 2307 is identified as a significant support zone (order block). Next Order Block: The area between 2361 and 2357 is the next significant resistance zone (order block). Bullish Scenario: A bullish pin bar candle has formed, There is a fair value gap between 2342 and 2328. If the FVG is filled without significant rejection, the price may...
Based on the 1-hour chart for Gold (XAU/USD), here are some observations and analysis: Triangle Pattern : The chart shows a symmetrical triangle pattern, which is a continuation pattern. The price is currently at the lower boundary of the triangle, suggesting a potential breakout to the downside. Fibonacci Retracement Levels : The Fibonacci retracement levels...
The RSI being in the overbought zone likely contributed to the price not reaching the target. Support on Trend Line: Despite not reaching the target, the price took support on a trend line. Trend lines are used to identify and confirm trends in price movements. If the price is taking support on a trend line, it suggests that the overall trend is still intact...
The S&P CNX Nifty Index Futures chart indicates an uptrend within a defined channel, with the price currently testing a key resistance level. A rejection from this resistance could lead to a pullback towards the fair value gap . Volume analysis supports this potential scenario, suggesting that a move to fill the gap could occur before the price resumes its...
While the chart suggests a bullish outlook with a potential target of 2467 USD, the presence of a bearish pin bar on the closing 4-hour candle indicates caution. This pattern can lead to bearish movement or consolidation. Traders should watch for confirmation of the breakout and monitor key support and resistance levels to gauge the next move.