Hidden Bullish Divergence will play?as mentioned during market
timings, 36.50 was important to
sustain. It could not and hit the
Lower Lock at 36.03
Next Support is around 34.50 - 34.62
Now it is Important to Sustain 36.50 - 36.70
on Weekly basis.
Monthly Support is around 35.
One +ve sign: Hidden bullish divergence has
also appeared.
Psxlong
PAEL SETUP ONCE AGAINPAEL is currently at its orderblock zone where the liquidity is resting if volumes come in at this level then we can expect a bounce again if the orderblock fails and there is no liquidity in OB then wait for downside levels and if the weekly ema 21 is broken then i see 30 level coming but still we will look into some more levels for now just focus on this orderblock
the previous supply is completed here
Cup & Handle Formation in process but Cup & Handle Formation in process but Yes, there is a Bearish Divergence
on Weekly Tf.
Resisted exactly from the mentioned level around 118.
Could not Sustain this level.
Now Weekly Closing above 104 - 105 is important.
Next Support lies around 96 - 97
If 118 is Crossed & Sustained, we may Target around 145 - 146.
KSE 100 INDEX BUYas Pakistan stock exchange has given an access to this portal and my first analysis is on KSE 100 INDEX i see a potential buy setup to a Daily Resistance Level and the first confluence for this setup is a GAP UP opening on Monday which is buy Signal the 2nd confluence is 200 EMA which is below candles and shows that it will be a buy setup third confluence is formation of a hammer candle which also shows us a buy setup but as i know the political situations and Geo economical position of Pakistan any move could be possible if everything goes smooth we will buying this 100 index
PSX Inverse Head and ShouldersPSX has completed an inverse Head and Shoulders pattern but failed to breakout above the neckline. It's possible that this could be due to the imminent earnings report which will be released BMO on Friday. In my opinion investors - traders are waiting for this release before entering a long position. PSX is once again approaching the neckline area and a nice beat on Friday could be the catalyst that is needed to push the price above the neckline towards $100.
PSX has beaten the earnings estimates the last 5 quarters but looking at the chart, PSX typically does not seem to make huge moves one way or the other on earnings results. That being the case I still believe a nice beat on Friday could propel PSX toward the $100 area. I am currently long PSX but I am also waiting to see the earnings results before adding or reducing my position.