It feels like ages since I last wrote or thought about a bullish breakout in bitcoin. The market has been bad, as we all know. But I see signs of green shoots now, at least on technical charts. For instance, the relative strength index, the darling indicator of experienced and tyro traders, is crossing above the year-long-downtrend line on the three-day...
CNY/MYR looks set to dive out of a two-year ascending channel 1. Bear divergence of RSI and MACD on weekly timeframe. 2. Multiple rejections above 0.66 in recent months. 3. Monthly MACD crossing bearish.
Ambuja cement daily chart shows: 1. Firm close above the 61.8% fib retracement hurdle, the so-called golden ratio, marking a bullish follow-through to the symmetrical triangle breakout confirmed at the end of June. 2. Price well above the Ichimoku cloud. 3. 5-day moving average beginning to trend up. Further, monthly chart shows 5,10SMA bull cross. The...
SRF's monthly chart shows: Bearish RSI divergence Impending 5-, 10-month MA bear cross, nearly confirmed MACD teasing a bearish flip. The setup looks ideal for short trade for target of 2100-1800 with a tight stop above 2500. The CMP is 2456.
I would be looking to sell the pair for three reasons: 1. multiple weekly candles with long upper shadows indicate uptrend fatigue, that too, in a rising wedge like pattern 2. The latest weekly candle closed in the red, after failing to keep gains above 5- and 10-week averages. Both averages have now crossed bearish. 3. A double top-like pattern seems to be...
The head and shoulders breakdown on the daily chart confirmed on July 18 opened doors for a roughly 70 basis points slide. That makes the 200-day moving average support, currently at 2.8%, pivotal.
Sell BTC at CMP @ $23.6K with stops above $24,666 and target of $20.7K Daily chart shows multiple candles with long upper wicks, indicating bull fatigue above $24K. The daily MACD shows loss of upward momentum.
DOGE's weekly chart shows 1. Classic inverted hammer with shadow twice as long as the candle's body. 2. MACD histogram teasing a fresh bull cross. Good to go long with a tight stop under 0.05 and for target of 0.10 and higher.
Gold flirts with the lower end of the bear flag at press time. A UTC close lower would signal a resumption of the broader downtrend, represented by the falling channel. Support at $1,787 (May 16) and $1,757 (Dec. 15 low). Macro supports bearish case - Talk of ECB 50 bps rate hike in July + continued Fed tightening.
The weekly chart shows a bearish divergence of the RSI and MACD's bearish cross below zero. To me, this says the hawkish Fed trade driven by inflation concerns may be over and the focus could soon shift to the impending economic slowdown/recession.
Alembic Pharma weekly chart shows RSI about to dive out of ascending trendline, signaling a continuation of the larger downtrend. MACD about to flip bearish again Lower highs on the price chart + support of 61.8% Fib under risk of being breached. Sell at 705 target 678-663 stop above 725
JPYINR's three-day chart shows an inverted hammer/inverted pinbar with a positive close plus bullish divergence of the RSI Good time to go long @ 0.5773 target 0.6120 stops under 0.5740.
Trent has formed a bear flag, breakdown likely no Monday. Daily MACD about too cross bearish plus RSI below 50 shoot for a target of 970
Gold's weekly chart shows: Double bottom at 38.2% Fib retracement marks an end of correction from the record high of $2,075. RSI about to breakout from a triangle pattern. A convincing move above the immediate resistance at $1,834 (Aug. high) would validate the above mentioned bullish developments, opening the doors for a re-test of $2,075. A move under the...
4-hour chart shows triple top at $46K plus bearish divergence of the RSI... RSI diving out of an ascending trendline 10y yield fast rising toward year-to-date highs on impending Fed taper. BTC could soon revisit $52K-$50K before resuming the uptrend. An hourly close above $46K would weaken case for pullback.
ETH hourly chart analysis Triple top near $3.5K (61.8% Fib retracement of Sep high-low) has neutralised immediate bull setup. hourly chart shows small rising wedge. A breakdown would validate triple top and expose horizontal support at $3,272 convincing move above $3.5K needed to revive bull momentum and expose resistance above $3,650.
Crude trades at 5,407 per barrel at press time, down 1.76%. Daily chart shows scope for deeper drop. Negative UTC close today would confirm 14-day RSI bearish divergence. MACD histogram about to produce bear cross. OBV has flattened in recent days, contradicting a rising prices. Shows correction is overdue. Close below 5413 would engulf Friday’s gain. Trade...