The two levels act as resistance zone . This zone is confluence of Fib 50% retracement level, 200 ema , trendline retest/resistance, and a broken support level which turned into resistance (this level held nicely during last bullish breakout retest, so strong support turned into strong resistance)
NIITTECH showing signs of weakness by forming descending triangle pattern (lower highs) near major fib extension level
Possible target would be previous fib extension level where it continued uptrend (shown in chart with RR)
BATAINDIA may see selloff soon. Because it is now it faced strong rejection from 4.236 extension levels of first accumulation zone which is level from which most stocks experience correction. One can look for short opportunities here
Gold has rejected from top and broke down from upward trendline. Now in short term downtrend withing falling wedge
Possible support zone mentioned in green box
Sustaining above blue resistance level would invalidate the idea and make it bullish again
Crudeoil is at big support on 4 months chart and already started changing the trend
Now It is breaking out of double bottom
There is still more support zone below so, not sure if it will fall more, but i feel like it won't fall further as it is just below Make or break support level (marked in violet color)
Its worth giving try on every reversal sign once price is...
Naturalgas showing signs of bottoming out. Now it seems like good buy for long term
1) Currently at multiple monlthly support near all time lows
2) Hovering near big capitulation wick
3) Now testing bottom yesterday's big bullish candle
We will never get this kind of risk to reward anytime soon, if this works as expected
On bigger picture nifty is getting rejected at upper resistance trendline of a big multi month rising wedge.
It is also in another channel on smaller time frame.
Nifty might take support from small channel then if nifty should continue bull trend or uptrend, then it should close above both upper trendlines and possibly a successful retest
A breakdown below...
Britannia pumped hard on coportate tax cut news and also got rejected hard from HTF resistance.
Now facing montly resistances.
Even though it has a good buy setup on daily/weekly timeframe, one should be cautious before going long
It may need to revist lower HTF support levels before starting up trend.
Technically it looks like Copper is getting ready for long term upside by forming strong consolidations at monthly support. Looks like left shoulder and head is already formed where head is formed by a double bottom pattern which is also bullish.
Once pattern completes and price breaks above the pattern we can see a very strong and clean up trend.