Gold Prices May Pull BackWhen the XAUUSD 4-hour chart is examined; It is observed that the price movements continue with the formation of an inverted cup formation on the trend line. As long as the Gold Ounce price cannot pass the 2667 level, it is evaluated that the price movements below the 2645 level can break the 2624 level and retreat to the 2580 level.
Technicalindicators
Will DE30 DAX Index Make a New High?When the DAX 4-hour chart is examined; It is observed that the price movements continue in an upward trend. As long as the index price does not break down from the 19050 level, it is evaluated that the price movements above the 19246 level may exceed the 19510 level and target the 19700 level.
Will US100 NASDAQ Continue to Rise?When the US100 4-hour chart is examined; It is observed that the price movements continue within the parallel channel. As long as the index price does not break down from the 19521 level, it is evaluated that the price movements above the 19826 level may exceed the 20313 level and target the 20548 level.
Use of Various Technical indicators. (Educational Post)Nifty again after making a new high ended in negative today. Main reason for nifty ending in negative can be attributed to channel top resistance. RSI (Relative strength Index) reached over heated zone and peaked above 80 showing the market was overheated, this was the second reason of Nifty ended in red of Friday after a fantastic weak. RSI of monthly and weekly and daily candles also shows that Nifty is in the overbought zone. This can continue for a while or Nifty can dive next week or in the coming time searching for it's supports for the purpose of correction or consolidation. On hourly chart as seen above RSI Peak is near 81 with supports near 57 and 47 range. Currently the RSI is at 64.67.
Bollinger Band is also suggesting temporary market peak near 26336 and strong support near 26092 and 25866.
MACD is also signaling towards consolidation and correction as the coveted blue line seen in the chart is dipping below red line. Histograms sine wave is going towards negative zone with some strength in it's stride.
50 hours EMA or the mother line is near 25909 and 200 hours EMA or the father line is near 25345.
Parallel channel indicates top near 26336. Mid channel support near 25866 and channel bottom support is near 25595.
Trend line support is near 26148 and trend top seems to be near 26437.
Supports and resistances drawn based on recent peaks and valleys are as under:
Supports at: 26148, 26037, 25866 and 25595.
Resistances at: 26277 (All time high resistance)
In the above chart and data we have used the combination of Supports and Resistances, Trend lines, EMA, MACD, RSI, Parallel Channel, Bollinger Bands. You must have seen that various Technical indicators many a times indicate same or similar levels. Thus instead of trying to master many indicators, if you can focus on a few and master them, you will be more often correct. As Bruce Lee has famously said and I quote him, "I am not afraid of someone who knows 10000 kicks, I am afraid of the one who has practised 1 kick 10,000 times."
It is also said in Sanskrit 'Sarva Deva Namaskaram, Keshavam Prati gacchati'. Pray to any of the divine forces but they ultimately end up at the feet of the supreme God head. Nasiruddin Shah had also said in a movie (Kabhi Haan Kabhi Na) "Idhar se jao, udhar se jao, ultimately sab rasta God ke pass jata hai." Deducing from it many indicators often yield same results. Master 2 or 3 of them and they will make you a great analyst.
Conclusion: Learn, unlearn, relearn and master a few indicators rather than trying to know many indicators. They will help you create generational wealth. To know more about these indicators and how to use them and to understand Techno-Funda investment, read my book: The Happy Candles Way to Wealth creation available on Amazon in Paperback or Kindle version.
The information regarding Nifty in this article is for the purpose of education and to show how various indicators often give same or similar result.
To know more about when to book profit? Where to place a stop loss or what is trailing stop loss you are recommended to read my book: The Happy Candles Way to Wealth creation which is available on Amazon in paperback or kindle version. You can also comment below or send a message to us.
Disclaimer:
The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
Will SUGAR Cup Reach Its Target?When the SUGAR 8-hour chart is examined; It is observed that the price movements continue within the Cup formation formation. It is evaluated that the SUGAR price may retreat to the level of 2077 in price movements below the level of 2278, but it is evaluated that in price movements above the level of 2278, it may exceed the level of 2412 and target the level of 2964.
Support And Resistance# GOLD Update...!
BULLISH BREAKOUT LONG POSITION.
Gold is going up now. Gold manage to create a new all time high.with a bullish breakout of the key level 2593 - 2585. Now we will buy on the retest that gold has broken out levels so we are locally bullish and i'm looking further growth in gold price. Keep an eye in these levels and potential outcomes.
Always use proper risk to reward ratio.
Can USDZAR Break Through Resistance Zone?When the USDZAR 4-hour chart is examined; It is observed that price movements continue below the resistance zone. It is evaluated that USDZAR can target 17.663959 in price movements above 17.108625, but as long as the 18.025658 level cannot be passed, it is evaluated that in price movements below 17.663959, it can break down 17.108625 and retreat to 16.202552.
Will EURUSD Continue to Rise?When the EURUSD 4-hour chart is examined; It is observed that the price movements continue with the formation of a cup formation on the trend line. As long as the EURUSD level of 1.10471 is not broken down, it is evaluated that in price movements above the level of 1.11198, it can cross the level of 1.12152 and target the level of 1.13993.
NVIDIA's Bullish Channel Holds Strong: September 2024 ProgressNVIDIA Stock Analysis and Future Outlook: September 2024 Update
Overview:
NVIDIA (NVDA) continues to exhibit a robust upward trend, consistently trading within a rising channel. The stock's performance is supported by both strong technical signals and fundamental factors. NVIDIA has established itself as the leader in the AI hardware space, benefitting from surging demand for its GPUs across various industries such as data centers, gaming, and automotive. With a recent rally fueled by the conclusion of CEO Jensen Huang's planned stock sales, the outlook for NVDA remains bullish, although some short-term consolidation could be expected.
Price Predictions:
1. Short-Term (Next 1-3 Months):
- Given NVIDIA’s recent performance and the slight bearish crossover in the MACD, short-term consolidation is likely. The stock could pull back to test lower support levels near $120 or even $115, which are close to the moving averages and the lower boundary of the upward channel. This presents an opportunity for investors to enter positions at a potential discount.
- However, any positive news related to AI advancements or product launches could trigger another leg higher, pushing the stock back above the $130 mark in the short term. A retest of the upper channel resistance near $135-$140 is also possible, depending on market sentiment.
2. Mid-Term (3-6 Months):
- Over the next six months, NVIDIA's growth trajectory looks solid, bolstered by strong demand for its AI and gaming chips. Analysts expect the stock to retest its previous highs around $150-$160, particularly as NVIDIA continues to expand its market share in AI and gaming sectors.
- Continued strength in its Data Center division, along with strategic partnerships in cloud computing and AI, could see the stock pushing towards $170-$180, assuming no major external shocks or macroeconomic downturns.
3. Long-Term (12-24 Months):
- The long-term outlook for NVIDIA remains highly favorable. AI is expected to dominate various industries over the coming years, and NVIDIA is perfectly positioned to capitalize on this trend. Analysts have set price targets ranging from $200 to $250 over the next 18-24 months, contingent on the continued growth of its AI and Data Center businesses.
- Longer-term projections could see the stock moving well beyond $250 if NVIDIA’s innovations, particularly in autonomous driving, cloud computing, and AI-powered enterprise solutions, continue to thrive. The recent advancements in sovereign AI and Blackwell chip production further reinforce this bullish outlook.
Investment Strategies:
1. Short-Term Strategy:
- Buy on Dips: Given the stock's long-term bullish trend but potential short-term consolidation, short-term traders might look for opportunities to buy on dips around $115-$120. This range aligns with technical support levels and offers a solid risk-reward ratio.
- Watch Key Resistance Levels: If NVIDIA breaches $130 in the short term, momentum traders could look for further gains up to $135 or $140. However, caution is advised if the stock moves out of the channel or technical indicators suggest overbought conditions again.
2. Mid-Term Strategy:
- Hold for AI Growth: Investors with a 6-12 month horizon might consider holding onto their positions, as NVIDIA is expected to benefit significantly from growth in AI, gaming, and cloud computing. NVIDIA's revenue from AI-related applications is forecasted to grow rapidly, which should support stock price appreciation over time.
- Leverage AI Boom: Traders could focus on news surrounding NVIDIA’s AI applications, as new product announcements or partnerships in AI or autonomous driving could drive further upward price movements.
3. Long-Term Strategy:
- Accumulate for Long-Term Growth: Long-term investors should consider accumulating shares, particularly during pullbacks, with the expectation of significant growth over the next two years. NVIDIA's fundamentals remain strong, and its dominance in AI hardware positions it for continued outperformance in the tech sector.
- Diversify Risk: While the long-term outlook is positive, it's important to remain diversified. External risks like geopolitical tensions, regulatory changes, or economic slowdowns could affect NVIDIA’s growth trajectory. However, its current market leadership and innovation pipeline make it a strong candidate for long-term portfolios.
Risks and Challenges:
1. Geopolitical Risks: NVIDIA faces potential risks related to U.S. export restrictions on chips to certain countries, which could impact its revenue from international markets. Although the company has mitigated some of these risks through market diversification, any increase in geopolitical tensions or sanctions could create short-term headwinds for the stock.
2. Valuation Concerns: As a high-growth stock, NVIDIA trades at a premium valuation. Any earnings misses or lower-than-expected guidance could result in a sharper-than-expected correction. Investors should keep an eye on quarterly reports and forward guidance.
3. Macro Environment: Broader economic conditions, such as rising interest rates or declining consumer confidence, could affect NVIDIA’s performance. While AI demand may provide some insulation from broader market swings, macroeconomic factors still play a role in overall market sentiment.
Conclusion:
NVIDIA remains a strong stock for both short-term traders and long-term investors. Its leadership in AI, impressive financial results, and continued innovation make it a compelling growth story. While short-term volatility may arise due to market sentiment or broader economic conditions, the long-term outlook is bullish. Investors should use pullbacks as potential buying opportunities and stay informed of major product launches or geopolitical developments that could impact the stock’s trajectory.
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Will Litecoin Break the Wedge Upwards?When the LTCUSDT 4-hour chart is examined; It is observed that the price movements continue within the upward sloping wedge. As long as the crypto's 62.56 level is not broken downwards, it is evaluated that the price movements above the 65.79 level can exceed the 69.41 level and target the 76.50 level.
Has Bitcoin Started the Expected Move?When the BTCUSDT daily chart is examined; It is observed that the price movements continue above the support zone. As long as the crypto's 59400 level is not broken down, it is evaluated that the price movements above the 61810 level can cross the 69000 resistance zone and target the 79000 level.
What Will Happen to Crude Oil Prices?When the USDWTI 4-hour chart is examined; It is observed that price movements continue above the support zone. As long as the Crude Oil price does not break below the 68.60 level, it is evaluated that the price movements above the 70.38 level may break above the 71.78 level and target the 75.82 level.
Will Gold Continue to Rise?When the XAUUSD 4-hour chart is examined; It is observed that the price movements continue in an upward trend. It is evaluated that the Gold Ounce price may retreat to the level of 2573 in price movements below the level of 2614, but as long as the level of 2573 is not broken down, it is evaluated that it may target the level of 2703 by breaking the level of 2641 in price movements above the level of 2614.
Will DE30 DAX Continue to Rise?When the DAX 4-hour chart is examined; It is observed that the price movements continue on the trend line. As long as the index price does not break down from the 18491 level, it is evaluated that the price movements above the 18679 level can exceed the 19055 level and target the 19737 level.
Will US100 NASDAQ Hit Target?When the US100 4-hour chart is examined; It is observed that the price movements continue with the formation of the Inverse Head and Shoulders formation on the trend line. As long as the index price does not break down from the 19008 level, it is evaluated that the price movements above the 19617 level may exceed the 20139 level and target the 20924 level.
[INTRADAY] #BANKNIFTY PE & CE Levels(23/09/2024)Today will be strong gap up opening of 300-400 points expected in banknifty. After opening expected banknifty reach upto 54450 level and this bullish rally can be extend for another 400-500 in case banknifty starts trading above 54550 level. Any major downside only expected below 53950 level.
Will Ethereum Break $2,670? Key Levels and Market AnalysisAlright, ladies and gentlemen, we're looking at Ethereum Coinbase 4-hour chart. As you can see, it's been hovering around the 0.786 Fibonacci level for a few days, but it has faced multiple rejections today. The market buyers are present, but moderately so we need more buying pressure to push Ethereum above that 0.786 level. If Ethereum can break through, we could see it rise all the way to $2,670.
Now, will ETH break $2,670? That depends on several factors :
Volume and Buying Pressure : ETH needs strong buying momentum to break resistance at $2,670. Watch for an increase in volume, particularly during a breakout attempt, as it suggests investors are confident in the upward move.
Overall Market Conditions : Broader market sentiment, such as Bitcoin's performance or movements in traditional markets, can heavily influence ETH. A favorable macroeconomic environment, like continued Fed rate cuts, could push crypto higher.
Technical Indicators : ETH staying above key levels like the 0.786 Fibonacci or significant moving averages would improve its chances of testing and breaking $2,670.
Macro Events : Regulatory news or unexpected developments in the crypto space could either fuel a rally or hinder progress.
If buying pressure builds and ETH breaks through resistance, it could surge past $2,670. However, if it gets rejected again, we might see a drop back down to the $2,400 area. Let’s stay tuned and see how this plays out. Please hit that like button for more updates!
AUS200 Technical AnalysisWhen the AUS200 daily chart is examined; It is observed that the price movements continue in an upward trend. It is evaluated that the index price can target the 8532 level in price movements above the 8257 level, but in price movements below the 8257 level, it is evaluated that it can break the 8111 level and retreat to the 7906 level.
CORN Can Go for Cup Target.When the CORN 4-hour chart is examined; It is observed that the price movements continue within the Cup formation formation. As long as the CORN price does not break below the level of 395.6, it is evaluated that in price movements above the level of 406.8, it can cross the level of 428.8 and target the level of 449.1.
GBPUSD Technical AnalysisWhen the GBPUSD 4-hour chart is examined; It is observed that the price movements continue with the formation of an inverted shoulder-head-shoulder formation on the trend line. As long as the GBPUSD level of 1.30886 is not broken down, it is evaluated that in price movements above 1.31787, it can cross the level of 1.32980 and target the level of 1.34550.
EURUSD Technical AnalysisWhen the EURUSD 4-hour chart is examined; It is observed that the price movements continue with the formation of an inverted shoulder-head-shoulder formation on the trend line. As long as the EURUSD level of 1.10548 is not broken down, it is evaluated that in price movements above 1.11231, it can cross the level of 1.12007 and target the level of 1.12886.
PriceAction StrategyIn this chart we are focusing on 1h time frame for EURUSD currency pair. In this analyze we are using price action concept along with support and resistance. So here we have two conditions.
1: If price break the consolidation or ranging area toward upside than we will go for buy.
2: If price break the ranging area toward downside than we will look for sell.
So wait for price when price give us clear breakout than after confirmation we will execute our trade.
Always use proper risk to reward ratio for your trade.
“Nasdaq's Target is 19,500”Today, there is an expectation of a 25 basis point rate cut in the Fed meeting. By the end of the year, a total rate cut of 100 basis points is almost certain. This situation leads to a positive risk appetite being effective on the indices. On the U.S. side, retail sales increased by 0.1%. Meanwhile, industrial production in the U.S. pointed to a positivity exceeding expectations with a 0.8% rise.
Technically, if the resistance level at 19,500 is permanently surpassed, the rise could gain momentum towards the 19,700 and then 19,950 resistance levels. On the downside, if the index falls below the 19,100 level, a pullback towards the support levels at 18,800 and then 18,450 might be seen.