Uranium Miner ETF Breaking a 2 year Resistance TrendHi Guys! This is a Technical Analysis on Sprott Uranium Miners ETF (URNM) on the 1 Week Timeframe.
We are currently in the process of BREAKING OUT of the Major Resistance Trend that started from November 2021.
Just KEEP in MIND -> The candle closes end of the trading week. So if end of week we are still ABOVE the resistance line thats 50% of the work done for TREND CHANGE to occur.
The other 50% to reach 100% of completing the job is the observation of CONFIRMATION above the resistance and having it turn SUPPORT.
Once we do that, we can start moving towards TARGET 1.
Notice also how for multiple weeks straight we tested SUPPORT on the 21 EMA, and now we are moving above it. This is a sign of BULLISHNESS
Remember we must wait for CONFIRMATION above the resistance. Without it, the chances of a FAKEOUT are probable.
STOCH RSI is showing that BULLISH momentum is entering. As long as we maintain this, moving up above the 80 level. It INCREASES the PROBABILITY that we complete the TREND CHANGE above the Major Resistance Trendline.
RSI is also in the process of a Trend Change. Notice how we tested SUPPORT and bounced off the BLACK line.
Stay tuned for more updates on URNM in the near future.
Thank you for taking the time to read my analysis. Hope it helped keep you informed. Please do support my ideas by boosting, following me and commenting. Thanks again.
If you have any questions, do reach out. Thank you again.
DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. Do not use my ideas for the basis of your trading strategy, make sure to work out your own strategy and when trading always spend majority of your time on risk management strategy.
Resistancebroken
Gold -> Wait For This Daily Setup!Hello Traders and Investors ,
my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of Gold 💪
After the simply monthly break and retest and also a retest of the 0.382 monthly fibonacci retracement Gold perfectly created the bullish continuation towards the upside.
With the recent break and retest of a major previous weekly structure zone, in confluence with bullish moving averages, I simply do expect more growth on Gold over the next couple of weeks.
My last analysis on Gold - linked below - perfectly played out once again and I am now just waiting for a clear breakout of the bullflag and a break above resistance and then also the path on the daily timeframe is clear fore more upside.
Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint📈
Thank you for watching and I will see you tomorrow!
My previous analysis of this asset:
Trend line breakout manufacture and supply over 20 categories of automotive components and systems to leading Indian and international OEMs based in India, Asia, South and North America and Europe
1) resistance line breakout
2) keeping Stop loss of 295
3) getting towards life time High level
4) risk reward super
5) please take own decision for buy and sell
6) I'm a learner just sharing my knowledge
Buy Gold Now 1936 H4At this time, the price of gold is around 1935. According to my analysis, the trendline has already experienced a breakout, and now the market is undergoing a retest. Therefore, you can buy it, and set your take profit at 1954, while placing a stop loss at 1928. I hope that by taking this trade, you will be able to earn a good profit.
This information is not financial advice. Please consult a professional before making any investment decisions.
Thank you.
EURCAD I Key resistance broken and more upsideWelcome back! Let me know your thoughts in the comments!
** EURCAD Analysis - Listen to video!
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future.
Thanks for your continued support!
BTC Flipping the Most Important Level of its HistoryI have a theory that the most important resistance level of BTCs history is not 31K or 31.5K like a majority of the world believes, rather that it is 29.1K
When looking at the weekly chart we can see this past week we just closed above the level for the first time since January 2021.
This is Extremely Bullish and in my opinion Negates all arguments for the possibility of a new low coming before the next Halving.
In addition to the level being flipped we have a weekly Stochastic Cross which is very bullish and has been occurring every 6 months for BTC for the past 2 years and each time there is a major move to the upside.
I think 29.1K is the new floor until we see a new ATH.
If you're waiting for a chance to buy/accumulate then you should probably start asking if you're making the right decision.
DCA, don't miss the move because you are stuck in the disbelief phase.
USOIL - NEW BREAKOUT📈Hello Traders👋🏻
The USOIL Price Reached a Major Support Level (68.08 - 66.51)✔
Currently, The Price Reject To Create New Lower Low, The Resistance TrendLine is Broken🔥
So, I Expect a Bullish Move📈
-----------
TARGET: 73.80🎯
___________
if you agreed with this IDEA, please leave a LIKE, SUBSCRIBE or COMMENT!
Is the rest of the market joining the rally?The weekly chart (on the bottom) shows that SPY and RSP were highly correlated until early March. After March, we have seen the two separate in YTD returns. The correlation coefficient confirms this break in trading. The breakdown in correlation between the RSP and SPY is most evident between May and June when RSP lost value and SPY gained value.
In the last week, we have seen SPY clear August '22 high. For many, this confirms that a new bull market has begun.
While the RSP is far from its August '22 high, we saw it break a short-term resistance level yesterday (6/13/23). The correlation coefficient is also rising back towards 1. It appears that RSP is beginning a new leg up. I believe a new leg up in the RSP confirms the Bull case for the SPY.
With the Fed decision this week and both equities close to a support/resistance line, I am also watching for the invalidation of this breakout in the RSP and SPY. For me, that would be both equities closing below their near support/resistance lines.
Ascending Triangles to Break $25k ResistanceI believe these ascending triangles are pointing to a breakout here, converging right at $25k, and it could be the one to finally overcome this beast of a resistance. Been a tough battle here. The triangles are a little malformed, but clearly they're getting smaller, and culminating to a point. We are almost there... rejection wouldn't surprise me, but I'm leaning towards a breakout. If we get above $25200 cleanly we should consolidate somewhere above $25k, and then after that, could be a pretty clear path to 28k or so, given the large volume gap in the 25-28k range. This all seems obvious though, and crypto rarely does the most seemingly obvious thing.
APTUSDT is testing the dynamic resistanceAfter an amazing bull run, the current price of APTUSDT is testing a static daily support level, which is a price level that has historically acted as a strong support for the asset's price. Additionally, the price has bounced on the 0.786 Fibonacci level and is now testing a daily resistance level, which is a price level that has historically acted as a strong resistance for the asset's price.
If the price of APTUSDT is able to break out from the $15 area and satisfy Plancton's rules, it may be a signal for a new long position.
–––––
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <= 1h structure.
Follow the Shrimp 🦐