As can be seen, Head and shoulders formed on Daily chart of Banknifty. Neckline comes around 37500/450 levels. Total height of formation is 4275 points. Will be break or will give a false breakout. Only time will tell.
With bullish formation on US10y yield, quote possible it can break!!!
Please share your views too.
Charts show breakout of rounding bottom formation on Weekly/Monthly charts of US 10year yields. Already got monthly closing above the breakout line.
If sustains above the breakout line minimum target for 10y yield will be around 5.5/6.5 pc. If so, there will bloodbath across all asset classes. Only below 3.4/3.3 negates the idea.
Brace! Brace! Brace! If true,...
Double top breakout in #xauusd. I think will get confirmed after this weeks #FOMC whether is a false one or not.
If confirmed, minimum target = 1450/1400$
Technically, dollar index #dxy looking bullish in longer time frame so quite possible of the #gold targets given above. Only time will tell.
As seen in monthly chart of USDJPY, inverted head and shoulder is formed. Breakout above 127.50/128 with volumes will make it run to multi decade highs.
Likely scenario: With current global inflation, BOJ is forced to abandon its yield curve control strategy, that brings the yen devaluation option to the forefront.
God bless us all!!!
Nifty has resistance levels around today's high becoz of rising trend line.
Can correct till 17500 which is 23pc fibo of recent low
Can sell with stop of 17900/950 on closing basis for 17500
Nasdaq100 Futures around important support levels of 15540. Break and close below this for 2 days and with volumes will bring in 14500/600 in picture (which looks like the probable scenario).
Global Equities on for a volatility ride in coming days/weeks!