1. price contraction is building up. ( wedge pattern )
2.inflation and bond yield event has been observed by the market.( bad times are gone)
3. festive season is about to come. (+ve for entertainment industry)
4. 100 EMA support is visible as seen is past.
one should wait for the breakout.
1. take support on 21 EMA.
2. close above 200 EMA
3. long buildup in futures.
4. 190 to 194 multiple support . ( 21 EMA, weekly CPR)
5. 214 weekly chart resistance .
5. RSi above 50 since last few weeks.
one should consider to buy around 195 ,,stop loss 190 ,, target 214 .
1. RSI is in overbought zone.
2. DOJI candles with lower high
3. upside 60400 target,
4. not week but one should enter when cross the all time high, or brent cores 84$ and close.
5. trading above weekly CPR.
high chances of retracement .
1. silver etf is about to launch (+ve for silver)
2.festivel ahead (+ve for silver)
3. weekly trendline(white one) is far and support is at faverable point.
4. rising bond yield and china crisis is still at front.(+ve for silver)
one should look for buying opportunity.
1. Cup and handle pattern on daily chart. ( handle is in under construction.)
2. china energy crisis.
3. rising dollar $$
4. increasing bond yield
5. OPEC countries are unable to increase crude production as per demand
All above are the indication of crude might see new high. one should look opportunities to buy.