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S&P bulls attempt to regain control but they are not there yetLast week, using oversold bounce, buyers attempted to regain control over the price. Their effort was somewhat successful, as they managed to establish both a higher low and a higher high on the daily chart. However, they failed to set a weekly low, which was a challenging task given the magnitude of the previous week's range. This indicates that bears still maintain control over the weekly (and monthly) timeframes, suggesting that we should expect to see more selling pressure in the short term. The immediate objective for bulls is to test the price above last week's high ( 509.9 ) and to close the month within March's range. They must also protect the last higher low ( 497.5 ) or the last weekly low ( 495.5 ), or else their progress will be undone. The short term outlook is mildly bearish. Watch out for volatility on Wednesday as important economic data is released and FED announces decision over interest rate Disclaimer I don't give trading or investing advice, just sharing my thoughts.
AMEX:SPYShort
by hermes_trisme
Premium Gold idea $$$ #xauusdThe XAU/USD (gold) pair is currently experiencing a wick down, indicating a temporary bearish movement in the market. Despite this short-term dip, the overall sentiment for gold is becoming increasingly bullish for day trading. Many traders view this as a buying opportunity, as gold is seen as a safe-haven asset during times of economic uncertainty. The recent dovish stance of central banks worldwide has further boosted the appeal of gold as a hedge against inflation and currency devaluation. From a technical standpoint, the wick down may be considered a retracement within a larger uptrend. Traders may look for buying opportunities near key support levels or trendlines to capitalize on potential upside momentum. Overall, with strong fundamentals and technical signals aligning, the XAU/USD pair is likely to resume its bullish trend in the near future, making it a favorable option for day traders. entry :2309.32 - wait for the wick down first then as it comes back up enter SL: this is the wick down I'm talking about allow market to wick down first then when you see a clear buy signal get in TP1 2319.09 #XAU/USD #gold #marketanalysis #bullish #daytrading #safehavenasset #economicuncertainty #dovishcentralbanks #inflationhedge #technicalanalysis #supportlevels #uptrend #buyingopportunities #traders #riskmanagement Like share comment and hit the follow button for more premium Free ideas thanks Trade God out
OANDA:XAUUSD
by TradeGod003
7
✅ Daily Market Analysis - 01 MAY 2024Economic events: USA - ADP Nonfarm Employment Change (Apr) USA - S&P Global US Manufacturing PMI (Apr) USA - ISM Manufacturing PMI (Apr) USA - ISM Manufacturing Prices (Apr) USA - JOLTs Job Openings (Mar) USA - Crude Oil Inventories USA - FOMC Statement USA - Fed Interest Rate Decision USA - FOMC Press Conference On Tuesday, the S&P 500 underwent a decline, terminating its five-month streak of consecutive gains. This downturn was propelled by apprehensions surrounding inflation, ignited by data highlighting wage pressure. Concurrently, this development aligns with the commencement of the Federal Reserve's two-day meeting. The Dow Jones Industrial Average witnessed a decline of 570 points, equating to a 1.1% decrease, while the S&P 500 experienced a 1.5% drop, and the NASDAQ Composite saw a 2% downturn. Particularly noteworthy is the S&P 500's recording of a 3% loss for the month. NDX, SPX, and DJI indices daily chart The escalation in US labor costs throughout the first quarter exceeded expectations, primarily propelled by rising wages and benefits. This development has revived apprehensions regarding inflation, particularly amid a diminishing investor confidence in potential Federal Reserve rate reductions. As per the Employment Cost Index, labor expenses surged by 1.2% in the preceding quarter, following an unrevised 0.9% uptick in the quarter prior. On a year-over-year basis, labor costs climbed by 4.2%. This report emerges following recent data indicating a buildup of price pressures in the initial quarter, amplifying concerns surrounding inflation. The downtrend of EUR/USD persists for the second consecutive day, with the pair hovering around the 1.0650 level during Asian trading hours on Wednesday. Amid European market closures in observance of Labour Day, market participants eagerly anticipate the Federal Reserve's forthcoming policy decision. EUR/USD daily chart Despite the release of robust Eurozone data on Tuesday, the Euro encountered challenges in sustaining its upward trajectory. Notably, Eurozone GDP surpassed expectations, expanding by 0.3% in the first quarter. Moreover, the Harmonized Index of Consumer Prices (HICP) exhibited stable year-over-year growth, meeting anticipated levels. However, the core HICP, excluding food and energy prices, exhibited a softening trend, albeit still surpassing estimates. Investor sentiment remains optimistic regarding the possibility of interest rate cuts by the European Central Bank in June, as a majority of ECB policymakers have signaled their endorsement for such measures. On Tuesday, the Japanese Yen incurred notable losses against its American counterpart, reversing a significant portion of the gains witnessed the previous day, driven by the potential intervention by Japanese authorities. The primary contributor to the JPY's weakness is the substantial interest rate differential between Japan and the United States, a trend expected to persist in the foreseeable future. This, combined with heightened demand for the US Dollar, propelled the USD/JPY pair higher during intraday trading. USD/JPY daily chart Following the publication of the AiG Industry Index on Wednesday, indicating a continued contraction in Australia's private business activity for March, the Australian Dollar remains subdued. Despite this, market sentiment suggests that the Reserve Bank of Australia will maintain its current interest rates of 4.35% in the upcoming meeting scheduled for next week. The Australian Dollar faced additional downward pressure following the release of disappointing Aussie Retail Sales data on Tuesday, raising speculation about its potential impact on the RBA's interest rate stance. However, optimism stemming from higher-than-anticipated domestic inflation figures from the previous week has led to speculation that the central bank might delay any decisions regarding interest rate cuts. AUD/USD daily chart During the early Asian session on Wednesday, the NZD/USD pair faces selling pressure around the 0.5880 level. The New Zealand Dollar depreciates in response to worse-than-expected employment data from New Zealand. NZD/USD daily chart In the first quarter of this year, New Zealand faced a notable increase in its unemployment rate amidst a prolonged recession compounded by high-interest rate conditions. According to Statistics New Zealand's report on Wednesday, the nation's Unemployment Rate rose to 4.3% in Q1 from 4.0% in Q4, surpassing market expectations of 4.2%. Simultaneously, Employment Change figures recorded a decrease of 0.2% in Q1, contrasting with the previous reading's 0.4% rise and falling short of the projected 0.3% increase. The upsurge in the unemployment rate may prompt the Reserve Bank of New Zealand to uphold its elevated rate for an extended duration to counter inflationary pressures. Market sentiment suggests that the RBNZ is inclined to maintain a restrictive Official Cash Rate, with any potential for rate cuts unlikely until 2025. As the Federal Reserve initiates its two-day policy-setting meeting, market consensus leans towards the central bank maintaining its benchmark interest rate within the current range of 5.25%-5.50%, a level sustained since July. Investors are particularly attentive to Federal Reserve Chair Jerome Powell's subsequent remarks following the monetary policy statement. These remarks are expected to carry substantial significance, with investors keen to glean insights into Powell's alignment with the market's less dovish perspective on the rate outlook.
by FOREXN1
1
Weekly Outlook - 27/04/2024Last week brought huge earnings reports for some of the big US tech companies, with mixed reactions. We saw META lose 7% during the previous week after a great earnings report, and Alphabet (GOOG) soaring 10% on Friday. Next week, we will see earnings from Amazon (Tuesday) and Apple on Thursday as well as other large cap earnings reports. Will the market be pricing in higher earnings off the back of last week's form? First, let's observe the broader markets... S&P 500 SPX looks to have created a bearish break of structure. I am anticipating a retrace into the pattern, at approximately $5,200 (around a 2% up move), at which point, the price may look to reverse to the downside. We can find confirmation for this on the RSI, where the momentum, which was holding at ~40, was broken and bulls are clearly losing power for the time being. DXY The DXY (or dollar index) is inversely correlated to the S&P 500. To put it simply: dollar goes up; stocks go down, and vice versa. In this image, you can see that the DXY has broken down from the highs and is looking to retrace. We have already seen a throwback into the consolidation pattern, and are now looking for the dollar to retrace...thereby adding confluence to the fact that stocks will see a rise in the early days of the week AAPL For AAPL, it is simple. A break below $165.67 would cause a major impulse to the downside, targetting ~$149.50. However, with current momentum, what I believe is more likely is a retrace to between $186 and $191 (an increase of nearly 10% and 13% respectively). For this to happen, a clean break of the swing high at 178.36 would need to occur. That's all for this market outlook. In conclusion, I am looking for a declining dollar and rising stocks in the early part of next week. Let me know what you think. Cheers
SP:SPX
by joshuashepherd877
S&P Bears are strong but Bulls still have a chanceLast week, sellers firmly controlled the market. Buyers attempted to defend March's low, but the bears left them no chance. Prices consistently declined for six consecutive days, with the futures chart ( CME_MINI:ES1! ) appearing even more bearish. We are now approaching a critical juncture, which presents a significant opportunity for buyers to take a stand. The daily RSI is nearing an oversold condition, and simultaneously, the price is approaching the SMA100 alongside a horizontal support level ( 490 ) from the February consolidation. There is no absolute certainty that buyers will seize this opportunity, but we should closely monitor the price action next week. Although sellers have demonstrated their strength, we are still in a weekly uptrend, and trends do not end easily unless there is a radical shift in sentiment. Despite negative news in recent weeks, nothing has emerged as critically detrimental yet. However, this could change, so we must regularly reassess the situation as new information becomes available. The short-term outlook remains bearish, but this could change depending on how the price reacts to these support levels. Disclaimer I don't give trading or investing advice, just sharing my thoughts.
AMEX:SPYShort
by hermes_trisme
XAUUSD Short Setup: Potential Sell Opportunity!We're eyeing a short opportunity on XAUUSD around the $2355-2360 range, where the price is expected to encounter resistance. This level coincides with the Fibonacci 0.50 retracement level, a key trendline test, and upcoming PMI news, suggesting a potential reversal. Heightened geopolitical tensions further support the bearish bias. Stay tuned for detailed analysis and trade insights!#XAUUSD #ForexTrading #ShortSetup #TechnicalAnalysis #GeopoliticalFactors #PMINews
FXOPEN:XAUUSDShort
by goldsniperfxreal
Today's Gold Price and Future DirectionAmidst prolonged tensions in the Middle East, global gold prices have surged, defying expectations despite robust economic data from the U.S. The sharp rise in gold prices comes as Israel signals readiness to retaliate against Iran's attacks, disregarding calls for restraint from Western nations. In the face of escalating geopolitical tensions, global gold prices show no signs of slowing down, with projections pointing towards a potential climb to the $2460 mark. Additionally, the metal is approaching a critical Fibonacci 1.618 profit-taking level, aligning with predictions from Dow Theory."
FXOPEN:XAUUSDLong
by goldsniperfxreal
Gold Market Update Exploring Trends Stay ahead in the gold market with our latest analysis! Gold prices are holding strong around $2385, with potential to breach the $2400 mark amidst escalating tensions in the Middle East. Geopolitical uncertainties drive investors towards gold, making it a safe haven asset of choice. Our in-depth analysis delves into market trends, technical indicators, and trading signals to guide you through potential opportunities. Explore the impact of central bank activities and inflation expectations on gold's trajectory. Don't miss out on valuable insights – keep informed with our comprehensive gold market update
FOREXCOM:XAUUSDLong
by sabellaFX
1
🟢📈 Market Update: BTC Breakout Potential! 📈🟢📊 Analysis: Market Movement: The market opened with a bullish tone, with BTC attempting to break through the top of the range support area at $66,000. Key Levels: Watch the 0.618 – 0.786 Fibonacci retracement level closely, spanning $68,000 - $70,000. Potential Scenario: A successful break above this level could lead BTC to retest the all-time high at $73,800. Risk Awareness: If BTC faces rejection, it may signal further downside, necessitating cautious risk management. 📈 Trading Strategy: Observation: Monitor BTC's price action around the key Fibonacci retracement levels. Entry: Consider long positions if BTC breaks convincingly above $70,000. Targets: Target potential retest of the all-time high at $73,800. Risk Management: Implement appropriate stop-loss measures to manage downside risk in case of rejection. 🚦 Stay Alert: Market trends may shift rapidly, so stay vigilant for changes in price dynamics! 📊📉 #BTC #MarketAnalysis #TradingStrategy 🌟📈
by Richtv_official
1
S&P weekly consolidation in progressAt the end of last week, sellers confirmed weekly consolidation by closing below the previous week's low. From now on, bears have control over the price on the weekly timeframe. We should monitor the progression of weekly lows and highs to see when things start to shift, but until then, we should trust the sellers. It is also notable that if we look at the futures chart ( CME_MINI:ES1! ), we can see that buyers were unable to close above the previous day's high for the last 10 trading days. If buyers want to regain control, this will be their first objective. Please note that the price is currently positioned near the previous month's low, which can provide an intermediate support level. If you’re planning to short the market, it is better to wait for a pullback or for a breakout with retest. Finally, if weekly consolidation will convert into monthly consolidation it will be a major win for bears. Disclaimer I don't give trading or investing advice, just sharing my thoughts.
AMEX:SPYShort
by hermes_trisme
Short-term DXY Analysis: Navigating a Diamond Bottom 📈💎Short-term DXY Analysis: Navigating a Diamond Bottom 📈💎 The US Dollar Index (DXY) is a critical indicator for currency traders, reflecting the strength of the USD against a basket of major currencies. As of mid-April 2024, here's a concise analysis based on the current market scenario, recent technical patterns observed, and economic events: Diamond Bottom Formation 💠 The DXY chart suggests the formation of a 'diamond bottom,' typically a bullish reversal pattern that occurs after a price drop. This pattern suggests potential for a reversal of the preceding downtrend, indicating that buyers might be gaining ground. Current Economic Backdrop 🌐 With geopolitical tensions and hawkish tones from central banks, particularly the Federal Reserve, there is a noted increase in the DXY. Hawkishness from the Fed Chair Powell indicates that rate cuts may not be imminent, reinforcing the USD’s strength. Technical Levels to Watch 🧐 Resistance Levels: The DXY faces immediate resistance at the 105.38/63 zone. A decisive break above could push it towards 106.57, with 107.17/20 as the next target for bulls. Support Levels: Initial support lies at the lower parallel/78.6% retracement of the yearly range at 104.53, followed by 104.23. A break below these levels could lead to a correction towards 103.47/49. Market Sentiment 📊 Market sentiment shows mixed positions among traders in commodities like gold and currencies like EUR/USD, with many investors likely leaning towards safer assets amid uncertainty. Possible Triggers 🔔 Central Bank Policies: USD bulls are currently facing headwinds from the Fed's stance and upcoming rate decisions. Global Market Dynamics: Rising geopolitical tensions and market volatility could increase the allure of the USD as a safe-haven asset. Conclusion: USD's Path Ahead In the short term, the DXY's outlook hinges on whether support levels hold post-FOMC decisions and broader market sentiment. If geopolitical situations exacerbate or central banks adopt more hawkish policies, the DXY could see further upside. Conversely, a break below key support levels could signal a shift in trend. The situation calls for vigilant monitoring of upcoming economic releases and central bank activities. 🔍 Please Note: This analysis does not constitute financial advice. Investors should conduct their own research or consult a financial advisor before making any investment decisions. #MarketAnalysis #TradingView #TechnicalAnalysis #DXY #USDDominance #Forex #Commodities #Gold #SafeHaven #EconomicIndicators #InterestRates #FederalReserve #Inflation #CurrencyTrading #Investing #StockMarket #Bonds #ETFs #Cryptocurrency #BearMarket #BullMarket #PriceAction #ChartPatterns #DiamondBottom #MarketSentiment
TVC:DXYLong
by Shibunacci
THE KOG REPORTTHE KOG REPORT: In last week’s KOG Report, we said traders must be aware of the conditions they’re trading, and markets are moving at extreme levels, we said would be looking for that sudden turn in Gold that may catch traders out. We gave the initial resistance level on the open of 2330-35 where we anticipated the first move down into support, this gave traders an opportunity but it was short lived and only netted us 100pips. The move however, was pinpoint, into support and then the bounce giving the long trade back up level to level. We said a break of that support level is what will be needed for Gold to go down further, otherwise, the reaction from those levels could give the bounce, which is what we got into the region we wanted 2350-55. During the week, upon breaking the resistance level, we continued with KOG’s bias of the week, looking for the higher levels 2365 and above that 2372, which we completed. Excalibur however had other plans and kept activating long and looking at the move we decided to continue with the move taking longs until Thursday’s close, where we suggested no more longs and gave the levels for the potential turn. The third level worked a treat, giving traders the opportunity to short the market for a huge move to the downside, which is where we closed for the week. An absolutely fantastic week in Camelot, completing targets not only on Gold, but the numerous other pairs we trade, giving a record breaking pip capture for us since we started sharing our work. So, what can we expect in the week ahead? Are we now bearish? That’s the question on everyone’s mind at the moment! Answer, simply, no, not yet! This is a correction, but most likely profit taking at the moment, we still need a complete swing turn here to then start looking for this to target the lower levels we wanted last week, which are sitting around the 2270-50 region. For that reason, we’ll initially want to see how the markets open before taking any positions, there is a chance we will see gaps on open that may again catch some traders out, especially those who entered late session Friday and didn’t protect their trades! We have the immediate resistance above sitting at the 2355-65 region, if held during the early part of the week, we feel there is an opportunity to short the market back down into the lower support regions, 2330-35 and below that 2310-2295. This is where we want to see the first RIP, and if we get it we feel the long is available into the higher regions where we will only follow Excalibur and hopefully get to carry and trades, if we get them. Please note, breaking above that higher resistance level of 2365-70 will give us the move to fill that wick and potentially take us into an even higher high, so please be careful if you’re in the wrong way, make sure you act accordingly and have a risk model in place. On the flip, continuing downside from the open, we suggest traders leave runners on any shorts from above, looking for the levels below 2310 and below that 2290-95 where we feel there may be RIPs, but only temporary, giving traders an opportunity to long the market level to level upside. If we get this move, we will be looking to add short trades and move with the market. One key thing to note here, if this is a bearish move here, we need more confirmation on it, as institutions don’t usually stop in one day, they tend to continue the move so breaking that lower level of 2290-95 is important. Don’t worry about capturing moves from tops and bottoms, it’s extremely difficult to do unless you have the right guidance and experience in identifying the key levels. The market will always give opportunities, take it at your stride, use the levels provided and make sure you have a risk model in place. More extreme conditions to come in the week’s ahead! KOG’s bias for the week: Bearish below 2365-70 with targets below 2310 and below that 2295 Bullish on break of 2375 with targets above 2425 and above that 2447 Keep an eye on the daily analysis as well as KOG's daily bias which as many traders have seen, work extremely well. Please do support us by hitting the like button, leaving a comment, and giving us a follow. We’ve been doing this for a long time now providing traders with in-depth free analysis on Gold, so your likes and comments are very much appreciated. As always, trade safe. KOG
FX:XAUUSD
by KnightsofGold
8
Nifty Short, Medium & Long Term View- 15-Apr-24 to 19-Apr-24Nifty Short, Medium & Long Term View- 15-Apr-24 to 19-Apr-24 Nifty closed at 22519 (22513) and touched low & high of 22435 & 22782 Nifty touched new high last week and reduced 1 % due to global cues on last day. Global tension caused mild drop in last working day of market. Depends the situation market will react next week. Expecting a mild fall till 22000 and may raise afterwards. RSI and stochastics levels was marginally down last week(57% & 71% Respectively). Refer to detailed comments in the bottom on market and election outcome. Nifty IT 35018(35250) - Nifty IT marginally decreased last three weeks. To continue hold and buy on dips. Nifty IT touched 20 days before new high (38550) and started falling. Major support at 34918 /34000. Can add more at 33288 with Target 40000. Nifty bank 48565 (48535) - As expected Nifty Bank increased in the last month gaining near to 6.5%. Nifty touched the near time target provided at 48618 & touched new high of 49063. Medium term support is at 44598 if breaks major support at 43650 ( Fib Support). To continue buy on dips. Nifty 22519- Short & medium term (Neutral) Nifty moved up in the last week touched new high 22782. As mentioned in the past month, nifty almost reached the near term target 22819 (Fibonacci extended resistance ( target) iwhich is the % of difference between Oct21 Peak -Jun22 Low from Oct 21 peak/23000. Short term support 22000/21900 Medium term Support - 21721 (Mar Low),21554 (Fib Support),21300, 20877 Fib Support as shown in the chart. Long Term Market expected range bound between 23300 ( Trend Line Resistance till May 2024) to 20225 / 20000 ( Fib Resistance),19500 expected in 2024. Q3 results are average except bank & Nbfc stocks, further up move will have target of 23150 ( Trend Line), 23500 ( Fib Resistance). Market Awaiting for the Q4 results to take a cue. Comments : Positive Lok Sabha Election result expectation, Global trend helped sustaining the market above 22000. Recent Electoral bonds, CAA implementation news couldnt make the market down as market is confident that current govt will win more than halfway mark, continue govt post election without any additional support of other parties so that govt can be confident enough to take decisions. Hence market is in good buy whenever there is a dip. Post Elections, only way Market will start grow higher by reduction of interest rate by RBI on a staggered manner till it reaches 5%. US fed rate reduction also expected from Jun/ Sep 2024. Market may correct if any global news till 19500 as there is strong multiple fib support in this range. Earlier last 2-3 months, purchasing/holding Nifty IT at lower levels proved effective as the Nifty IT index as it moved up by 20%. Nifty IT posted flat or negative results in Q3. Nifty IT touched new high on 16-Feb-24 (38477). Target 40000. Similarly despite nifty bank results for Q3 were good as expected, Nifty Bank index was down by 10% last three-Four weeks. Nifty Bank Index was suggested to buy two weeks before. Nifty Bank in nearing the target provided (48600). Nifty Bank Stocks / Bank Index can be purchased whenever it falls down. HDFC bank is now in buyable range, can be further bought if it further dips for Medium to Long Term. Continue to buy on dips. As expected, stocks other than Banks have posted mixed results. Market can any time expected to turn volatile till elections in 2024 (Apr-May). Company Earning per share (EPS) are near to maximum level, expected policy / budgetary push to move up further in 2024. Individual stock pick will be the key in 2024.
NSE:NIFTY
by karthikss
S&P bears attack, bulls still holdLast week was marked by the aggressiveness of sellers and the resilience of buyers. On Monday Buyers were ideally positioned for another break out but they didn’t have enough steam to accomplish it. Sellers, long awaiting their opportunity, pushed the price down, breaking the weekly support. However, they couldn’t develop this into something more significant, as the bulls returned with a firm "no". The rest of the week continued in the same tug-of-war fashion. The most confusing days were Thursday and Friday. Thursday started very bullish but ended with a dramatic bearish turn. Friday, expected to be bearish, unfolded under the bulls' control. This was a story. Now, let’s now review all the signals more formally: Bearish Signals • Confirmed downtrend on the daily chart, indicated by a lower high and lower low. • Weekly consolidation has begun. Bullish Signals • The week closed right at the previous week's low after price shaped hourly higher low • Friday’s value zone is within the value zone of the previous four days. The context remains very bullish – price is in a strong weekly uptrend, last month closed very strong. Overall, it is a very ambiguous case with neither side having a clear advantage. Buyers are exhausted, yet not willing to capitulate. Bears are attempting to play their game but lack sufficient strength. The short-term outlook is neutral. From this position market can go in any direction. We need additional signs of one side gaining an upper hand. Until then, it is not advisable to place big bets on either side. Wednesday is a very important day, with both the release of inflation data and the FOMC meeting Disclaimer I don't give trading or investing advice, just sharing my thoughts.
AMEX:SPY
by hermes_trisme
2
XAUUSD Bullish Trend - All-Time HighOverview: XAUUSD (Gold/US Dollar) is currently experiencing a strong bullish trend, marked by consistent upward momentum and robust buying pressure. This bullish sentiment is underscored by the recent attainment of an all-time high price level. Key Indicators: Price Action: XAUUSD has been steadily climbing, forming higher highs and higher lows, indicating a clear uptrend. Moving Averages: Short-term moving averages (e.g., 20-day SMA) are positioned above longer-term ones (e.g., 200-day SMA), signaling bullish momentum. Volume: Trading volume has been increasing alongside price gains, reflecting heightened investor interest and participation in the market. MACD: The MACD (Moving Average Convergence Divergence) indicator shows a bullish crossover, with the MACD line rising above the signal line, suggesting upward momentum. RSI: The Relative Strength Index (RSI) is in the overbought territory, indicating strong buying pressure and potential further upside.
FXOPEN:XAUUSDLong
by ranafahadanjum
📉💡 TOTAL Market Retracement Analysis 💡📉📊 Market Overview: Recent Movement: The TOTAL cryptocurrency market capitalization has experienced a retracement from approximately $2.6 trillion to $2.35 trillion before rebounding briefly and encountering resistance at the $2.5 trillion level. Current Trend: Despite the bounce, there's a risk of further downside if the daily support line around $2.35 trillion is breached. 📉 Potential Scenarios: Breakdown Scenario: If the support at $2.35 trillion is breached: Downside Targets: Look for potential support zones at $2.10 trillion - $2.20 trillion and $1.80 trillion - $1.90 trillion. Impact on Altcoins: A market retracement could lead to bearish sentiment for altcoins, potentially resulting in further declines. Recovery Scenario: If the support holds and the market rebounds: Upside Potential: Anticipate a potential return to previous levels or higher. Altcoin Resilience: A successful rebound could stabilize altcoin prices and restore confidence in the market. 💼 Risk Management: Monitoring Support Levels: Keep a close eye on the $2.35 trillion support level and be prepared to adjust strategies accordingly based on price action. Managing Positions: Consider implementing risk management strategies such as stop-loss orders to protect against adverse price movements. Market Sentiment: Stay informed about market sentiment and monitor key indicators for signs of potential trend reversals. 📈💰 Trade Responsibly: Stay cautious and adapt to changing market conditions. Managing risk effectively is crucial in navigating volatile market environments. 📉💡 #TOTAL #MarketAnalysis 🚀📊
CRYPTOCAP:TOTAL
by Richtv_official
S&P still very strong; rally goes onLast week began with bearish consolidation, which was short-lived. The bulls quickly regained control, established a daily higher low, and broke through the previous week's resistance at 524.1 . Although the breakout was not very strong, it was still meaningful. The March close was very strong, posting a +3% gain, and both weekly and daily charts are indicating an uptrend. All major sectors appear strong. The bulls have full control, and the rally is likely to continue. This week is heavily loaded with economic data releases, which might cause some volatility. However, unless there are major surprises, it should not affect our main thesis. Important level to watch is 518.4 . As long as it holds, buyers are in control Disclaimer I don't give trading or investing advice, just sharing my thoughts.
AMEX:SPYLong
by hermes_trisme
Nifty Short , Medium & Long Term View- 02-Apr-24 to 05-Apr-24Nifty Short, Medium & Long Term View- 02-Apr-24 to 05-Apr-24 Nifty closed at 22462 on 01-Apr-24 (22096 on 22-Mar-24) and touched low & high of 21893 & 22517 RSI and stochastics levels have improved last week (61% & 92% Respectively). Market was volatile in the month of March and in the end of the month started to increase. Market touched new high on 01-Apr-24 (22522). Refer to detailed comments in the bottom on market and election outcome. Nifty IT 35042 (35188) - Nifty IT marginally decreased. To continue hold and buy on dips. Nifty IT touched 20 days before new high (38550) and started falling. Major support at 34918 /34000. Can add more at 33288 with Target 40000. Nifty bank 47578 (46863) -To continue buy on dips. As expected Nifty Bank increased in the last 2 weeks. It is nearing the initial Target 48618 (All time high). support is at 44598 if breaks major support at 43650 ( Fib Support). Purchase on Dips. Nifty 22462- Short & medium term (Neutral) Nifty moved up in the last week touched new high 22522. As mentioned for the past three weeks, Fibonacci extended resistance ( target) is near to 22819 which is the % of difference between Oct21 Peak -Jun22 Low from Oct 21 peak. nifty next target 22819 (Fib Resistance)/23000. Short term Support - 21900, 21721 (Mar Low) Medium term Support at 21554 (Fib Support),21300, 20877 Fib Support as shown in the chart.20225 (prev high), 20000 ( Fib Resistance) Long Term Market expected range bound between 23300 ( Trend Line Resistance till May 2024) to 19500 expected in 2024. Q3 results are average except bank & Nbfc stocks, further up move will have target of 23150 ( Trend Line), 23500 ( Fib Resistance). Market Awaiting for the Q4 results to take a cue. Comments : Positive Lok Sabha Election result expectation, Global trend helped sustaining the market above 22000. Recent Electoral bonds, CAA implementation news couldnt make the market down as market is confident that current govt will win more than halfway mark, continue govt post election without any additional support of other parties so that govt can be confident enough to take decisions. Hence market is in good buy whenever there is a dip. Post Elections, only way Market will start grow higher by reduction of interest rate by RBI on a staggered manner till it reaches 5%. US fed rate reduction also expected from Jun/ Sep 2024. Market may correct if any global news till 19500 as there is strong multiple fib support in this range. Earlier last 2-3 months, purchasing/holding Nifty IT at lower levels proved effective as the Nifty IT index as it moved up by 20%. Nifty IT posted flat or negative results in Q3. Nifty IT touched new high on 16-Feb-24 (38477). Target 40000. Similarly despite nifty bank results for Q3 were good as expected, Nifty Bank index was down by 10% last three-Four weeks. Nifty Bank Index was suggested to buy two weeks before. Nifty Bank in nearing the target provided (48600). Nifty Bank Stocks / Bank Index can be purchased whenever it falls down. HDFC bank is now in buyable range, can be further bought if it further dips for Medium to Long Term. Continue to buy on dips. As expected, stocks other than Banks have posted mixed results. Market can any time expected to turn volatile till elections in 2024 (Apr-May). Company Earning per share (EPS) are near to maximum level, expected policy / budgetary push to move up further in 2024. Individual stock pick will be the key in 2024.
NSE:NIFTY
by karthikss
THE KOG REPORT THE KOG REPORT: In last week’s KOG Report we said we would be looking for the support level of 2145-7 to be attempted and if held we felt that region would represent an opportunity to long the market using KOG’s daily bias levels and the levels on the chart. We said we would be looking for 2165-7 and in extension of the move into 2175 which were both completed. We then released the FOMC KOG Report, giving the level of 2180-5 as a RIP region, which gave us a good capture short, and then suggested that the break of 2175 could lead us into extreme levels 2210 which was highlighted. As you can see, the FOMC move tapped into the higher region and slightly higher, before a reaction in price with a huge rejection. We managed to trade the long into key levels, missed the all time high as it was overnight, and then captured a nice short as well. Tracked and traded up and down using our red box strategy, indicator and of course Excalibur. A great week on not only Gold, but we hit our all time high targets on US30, NAS100 and DAX ending a phenomenal week in Camelot. So, what can we expect in the week ahead? It’s the last week of the month and Friday is the last day, so expect there to be some aggressive movement, whipsawing and choppy price action. We can already see profit taking from the highs, what we want to see if they are going to try and retest that high, or as institutions usually do, continue the move in the intended direction. This week we’re sticking to a similar plan from last week, but hopefully without the extreme movement. We have the higher resistance level now at 2175-80 with extension of 2193-5, which was our bearish below bias level and as long as we stay below this level, if attempted, we will be looking to hold any short trades further down into the 2155, 2150 and below that 2147 regions initially. If the move down continues, we would expect a RIP around the 2135-40 region giving an opportunity to capture the scalps back up. The 2155-50 is the hurdle, if we can flip this level the move down will give us more confidence in lower pricing. Please note – Breaking above 2175 and holding will flip us again, and we’re likely to go and test that high. It has to be traded day by day at the moment unless you’re holding trades from key levels above or below. In summary: Move up into resistance, as long as it holds we’ll look to take this down further into the levels given. Move down, we’ll level to level trade it, holding anything from above and look for bounces for the scalps long. It’s looking like we may see some gaps on opening, so please be careful. KOG’s Bias for the week: Bearish below 2175 with targets below 2145 Bullish on break of 2175 with targets above 2183 and above that 2195 Please do support us by hitting the like button, leaving a comment, and giving us a follow. We’ve been doing this for a long time now providing traders with in-depth free analysis on Gold, so your likes and comments are very much appreciated. As always, trade safe. KOG
FX:XAUUSD
by KnightsofGold
12
Nifty Short , Medium & Long Term View- 19-Mar-24 to 22-Mar-24Nifty Short , Medium & Long Term View- 19-Mar-24 to 22-Mar-24 Nifty closed at 22023(22493) and touched low & high of 21905 & 22524 RSI and stochastics levels are same in this week (47% & 21% Respectively). Stochastics is in oversold zone. Market touched a new high last week Monday 22524. RBI issued warning on excessive rally on Mid & Small Cap to control liquidity. Hence Mid & Small Cap corrected last week. Market waiting for to take clear position (to go up or down). Market closed almost flat on first day of this week i.e 18-Mar-24. Nifty IT 37517 (37099) -To continue hold. Nifty IT touched new high of 38550 20 days before. Major support at 34918 /34000. Target can be 40000. Nifty bank 46591 (47853) -To continue buy on dips. Nifty Bank last week dipped. initial Target 48618 ( all time high). if it cross this resistance decisively. support is at 44598 if breaks major support at 43650 ( Fib Support). Purchase on Dips. Nifty Bank last week high was 47864 and dipped to low to 46316. Refer to detailed comments in the bottom. Nifty 22023- Short & medium term (Neutral) Nifty is undecisive state at present and will be rangebound. As mentioned for the past three weeks, Fibonacci extended resistance ( target) is near to 22819 which is the % of difference between Oct21 Peak -Jun22 Low from Oct 21 peak. nifty next target 22819 (Fib Resistance)/23000. Short term Support - 21900, 21554 (Fib Support),20877 Fib Support as shown in the chart. Medium term Support at 20225 (prev high), 20000 ( Fib Resistance) Long Term Market expected range bound between 23000 to 18800 expected in 2024. Q3 results are average except bank & Nbfc stocks, further up move will have target of 23150 ( Trend Line), 23500 ( Fib Resistance). Comments : Positive Lok Sabha Election result expectation, Global trend sustaining the market above 22000. Recent Electoral bonds, CAA implementation news couldnt make the market down. Hence market is in good buy whenever there is a dip. Post Elections, only way Market will start grow higher by reduction of interest rate by RBI on a staggered manner till it reaches 5%. US fed rate reduction also expected from Jun 2024. Market may correct if any global news till 19500 as there is strong multiple fib support. Earlier last 2-3 months, purchasing/holding Nifty IT at lower levels proved effective as the Nifty IT index as it moved up by 20%. Nifty IT posted flat or negative results in Q3. But to a surprise Nifty IT moved up 4-5% up as US economy is recovering. Nifty IT touched new high on 16-Feb-24 (38477). Target 40000. Similarly despite nifty bank results for Q3 were good as expected, Nifty Bank index was down by 10% last three-Four weeks. Nifty Bank Index was suggested to buy two weeks before. Nifty Bank Stocks / Bank Index can be purchased whenever it falls down. HDFC bank is now in buyable range, can be further bought if it further dips for Medium to Long Term. Nifty Bank ( 46554) tried to move above key resistances. Continue to buy on dips. As expected, stocks other than Banks have posted mixed results. Market can any time expected to turn volatile till elections in 2024 (Apr-May). Company Earning per share (EPS) are near to maximum level, expected policy / budgetary push to move up further in 2024. Individual stock pick will be the key in 2024.
NSE:NIFTY
by karthikss
Leveraging Pivot Points for Intraday Trading StrategiesIntroduction to Pivot Points: A pivot point serves as a pivotal indicator in technical analysis, aiding in discerning market trends across various time frames. Essentially, it's an average of the intraday high, low, and closing prices from the previous trading day. Traders interpret trading above the pivot point as indicative of bullish sentiment and below as bearish. Key Features: Pivot points form the foundation of this indicator, from which support and resistance levels are projected. These levels offer insights into potential price reversals or continuations. It's widely utilized in equities, commodities, and forex markets to identify trend shifts and reversals. Traders leverage pivot points to determine entry and exit levels, aiding in strategic decision- making for intraday trades. Formulas for Calculation: The formulas for pivot points involve simple calculations based on the previous day's high, low, and close prices. These calculations yield pivotal support and resistance levels crucial for trade planning. The Formulas for Pivot Points: P= High+Low+Close / 3 ​ R1=(P×2)−Low R2=P+(High−Low) S1=(P×2)−High S2=P−(High−Low) where: P=Pivot point R1=Resistance 1 R2=Resistance 2 S1=Support 1 S2=Support 2 ​ Calculation Method: Pivot points can be manually calculated using the prior day's data, which includes the high, low, and close prices. These levels are essential for traders, especially for intraday strategies. High indicates the highest price from the prior trading day, Low indicates the lowest price from the prior trading day, and Close indicates the closing price from the prior trading day. Interpreting Pivot Points: Pivot points provide traders with static support and resistance levels throughout the trading day. This enables traders to pre-plan their trades based on potential price movements. Traders utilize pivot points in conjunction with other indicators to enhance their trading strategies, aiming for more accurate predictions and better risk management. Comparison with Fibonacci Retracements: Pivot points and Fibonacci retracements share the common goal of identifying support and resistance levels. However, pivot points rely on fixed numbers derived from the previous day's prices, while Fibonacci retracements are based on percentage levels drawn between significant price points. Limitations and Considerations: While pivot points offer valuable insights, they are not foolproof indicators and may not work for all traders. It's crucial to integrate them within a comprehensive trading plan and acknowledge their limitations. Price movements may not always adhere strictly to pivot point levels, requiring traders to exercise caution and employ additional analysis techniques. Conclusion: Pivot points remain a fundamental tool in the arsenal of intraday traders, aiding in trend identification and trade planning. By understanding their calculations, interpreting their implications, and integrating them with other indicators, traders can harness the power of pivot points to make informed trading decisions. Disclaimer: This trading idea is for educational purposes only and should not be considered as financial advice. Traders are encouraged to conduct thorough research and exercise caution when implementing any trading strategies.
NSE:NIFTYEducation
by khushaljain023