Positive price action on CRM but needs to take out RSI 61.8 level which has been problem in the past. Otherwise, momentum is strong.
Weekly technicals are looking good for TTD – looks like shares want to go higher as momentum indicators are strong. Shares are currently interacting with resistance at RSI 61.8. If it moves past and stay above this RSI level, shares would see sustained gain ahead.
Technical picture is looking weak for Crude oil as the weekly RSI fell below the fib 61.8 level. This level provided support in early April. A break of this support is negative. It’s entirely possible for crude to back test this level. Resistance is likely to be strong at that level as had been previously.
Gold is challenging the daily 200 SMA. Looks like it wants to make a decisive break through that level which opens the door for a move towards $1,870. Momentum indictors are still bullish.
Looks like Silver is in the process of forming a base. Momentum is beginning to improve. Daily RSI moved above 50. If Silver is above to take out the 50 day EMA and 200 SMA, around $26.25, a retest of previous highs of around $28.50 becomes a distinct possibility.
Strong looking chart for NUE. Daily RSI successfully bounced of support at 61.8. MACD is on the rise. As long as the shares stay above 61.8, there could be additional upside ahead as was the case in Feb and April of 2021.
Weekly chart of DDOG. RSI cleared the 61.8 level which was a problem area in the past. Weekly MACD is still moving higher and looking strong. Looks high the stock wants to go higher.
MRNA shares continue to remain strong but are approaching RSI resistance at 78.6 level. Shares fell below this RSI level last week and are likely to back test this level. Historically, this level acted as resistance on several occasions, so there’s likely to be some reaction this time as well,
Weekly chart of SPOT. Shares are currently at the 61.8% retracement from the Covid lows. RSI is also at a critical support at 38.2. This RSI level provided strong support in the past. So, needs to hold this level.
Daily chart of Nifty 50 which broke to the upside after trading sideways for weeks. Momentum indicators are positive. RSI closed above 61.8 level. Every time RSI moved and stayed above that level in the past, index saw sustained gain.
Daily chart of AMZN. The daily RSI is near 32.8 level. In the past, shares found good support at this RSI level (Mar 2020 and 2021). The only difference before was MACD was in the process of bottoming which is not the case this time. Next area of RSI support would be around 30 and then around 23.6 if 38.2 level is breached.
Daily chart of MSFT. RSI is just above the key 61.8 level; already bounced off that level on 19 July. This level of RSI is significant because when RSI fell below this level in the past (Dec 2020, Feb 2021 and Apr 2021), shares remained under pressure for a while.
TSLA broke through key RSI resistance at 61.8 level. Last time (Nov 2020) when it broke and stayed above the 61.8 level, it saw significant gain. We could see something similar this time also so long as it stays above 61.8 level.
Gold had a nice rebound but backed of the daily 200 day SMA. That level also happens to be at RSI 61.8. Gold has respected that level this time as it has acted as resistance in the past (Jun 2021, Nov 2020, Aug 2020). But if Gold is able to overcome that level, it could go on a decent run as was the case in May 2021.
Weekly chart of TNX; RSI @ 40.04 and approaching an important level of 38.2. There have been couple instances of a significant rebound in rates off this RSI level, namely Sep 2017 and Aug 2020. Equally, rates have fallen sharply when this RSI level is breached, Apr 2019 and Feb 2020. So, this RSI level is worth watching. Notably, the MACD is still declining, so...
Long term technical picture is beginning to look bullish again for BTC; price is now back above the weekly 20/50 EMAs, RSI is moving higher; above the 50 level, MACD appears to be basing near the zero line. All these suggests higher prices ahead.
This coin is seeing strong buying interest as it broke through the daily 50 EMA. Momentum indicators are strong; MACD is about to cross above the zero line. LINK is approaching RSI resistance; it also has to deal with resistance at the daily 200 SMA, around 27.5. Overall, bullish technicals.
Further to the earlier post, the daily RSI for TSLA is approaching 61.8. This area of RSI provided strong resistance in the past, so a break above that level would be significant, as was the case in Nov 2020.