ZAMIL shares have been reaching higher peaks, while the Commodity Channel Index indicator is showing diminishing highs, indicating a bearish divergence pattern on the weekly timeframe. This pattern suggests the beginning of a downward trend. Confirmation of this trend would occur if the price breaks below the support level of 23.70 SAR. Conversely, if the price...
2100 WAFRAH Weekly chart show positive pattern Target to (67.80-70.00) about 45% from current price
TASI form H&SH Pattern , and close at Nick line But there is cluster of support in current area , so there is potential to Pattern Fail and Market continue up trend , first need to close above and breakout the descending Trend line (mention in chart) then get higher than Right Shoulder @ 12800 in case of confirm close under 12850 it will activate pattern...
Now should Cross 61 to continue this uptrend Next resistance would be then around 72 - 73 initially On the flip side, 53.50 - 54 may act as a Strong Support Entry can be taken with a Stoploss of 49 on Closing basis
Bearish Divergence on Daily TF but Bullish However, Bullish Engulfer is expected On Weekly basis if Closes above 111.50 Making HH HL on Daily TF 111 - 112 can be a Good Support area to take Risk if we can see few Bullish Candles at this level 100 can be the Stoploss level on Closing Basis
Though Bullish on All Time Frames, Bearish Divergence on Monthly TF + Double Bottom around 57 - 58 are favoring Bears However, Bullish Momentum will Only be Continued if 58 - 59 is Sustained
Strong Support is around 4.60 - 5 Closing above this level would be a positive sign
Entry can be taken with a Stoploss of 137 on Closing basis However, Closing above 139.60 - 140 is a Positive Sign 144 is a Very Strong Resistance Risk Averse Players may wait to Cross & Sustain 144; Next Important Resistance is around 147
May Take Support around 216 - 217 However, Bearish Divergence on Weekly TF weakens its Entry here Those who Understand Technical Moves, please note that, Initially 224 - 225 should be Crossed & Sustained for Immediate Target around 234 - 235 Stoploss should be 198 on Closing basis
However, Closing above 19 can be a positive sign 19.40 - 19.50 is the Initial Resistance Sustaining this level will lead it to 21 - 22. Next Strong Resistance will be around 24 - 25
though Not Yet Bullish but Bullish Divergence on Daily TF a perfect 23.60% Support around 12.50 Double Bottom formation is expected at same level around 12.40 - 12.50
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3007 Zahrat ALWAHA D1 - 23/4/2024 (TASI Market). Trend Analysis Elliott Wave Harmonic Patterns Regards
If 36 - 36.50 is Sustained on Weekly Basis, we may witness further Upside Around 39.50 - 40 is the initial resistance then Crossing & Sustaining 42 - 43, may lead it towards 45 - 46 (Near Double Top) There we would see if Bearish Divergences will be formed, we will book our Profits
Script currently in non-trending zone and continuously bouncing back from the resistance levels. we have plot important support and resistance levels for this script and provide TP and SL considering the support and resistance levels. #DYOR_NFA (Do your own research as well) _Non-Financial Advice.
Potential Harmonic Pattern. Target are shown on the chart.
The coming period may witness a decrease in demand for Saudi oil , which may lead to a decrease in its price. It is expected to visit the area highlighted in white and visit the numbers shown. TADAWUL:2222
H&S Pattern observed Crossing 13.50 will lead it towards 14.18 initially then 15 - 15.45 Stoploss must be 12.90 (on closing basis) in this case