Will Gold Bounce or Slide?Hello traders! My technical indicators and analysis suggest that gold is likely to be a buy if it breaks out above the level of 2519-2520 and subsequently retests this level as support. On the other hand, if gold breaks down below the support level of 2504-2505 and then retests it, we may consider a potential sell opportunity.
Technicalindicators
USDZAR Technical AnalysisWhen the USDZAR daily chart is examined; It is observed that the price movements continue on the trend line with the formation of an inverted cup formation. As long as USDZAR cannot pass above 18.598235, it is evaluated that in price movements below the level of 17.458306, it can break down to the level of 16.709696 and retreat to the level of 15.620809.
EURUSD Technical AnalysisWhen the EURUSD 4-hour chart is examined; It is observed that the price movements continue on the trend line with a possible cup-and-cup formation. While it is evaluated that EURUSD may retreat to the level of 1.08920 in price movements below the level of 1.10152, it is evaluated that it may target the level of 1.13750 by exceeding the level of 1.12015 in price movements above the level of 1.11120, as long as the level of 1.10152 is not broken down.
GOLD Prices : Bounce Back or Drop Further!Hello traders! My technical indicators and analysis suggest that gold is likely to be a buy if it breaks out above the level of 2497-2498 and subsequently retests this level as support. On the other hand, if gold breaks down below the support level of 2493-2494 and then retests it, we may consider a potential sell opportunity, similar to yesterday.
SHIBUSDT Technical AnalysisWhen the SHIBUSDT 4-hour chart is examined; It is observed that the price movements continue in a downward trend. As long as the crypto's 0.00001466 level cannot be passed upwards, it is evaluated that in price movements below the 0.00001254 level, it can break down the 0.00001081 level and retreat to the 0.00000906 level.
BTCUSDT Technical AnalysisWhen the BTCUSDT hourly chart is examined; It is observed that the price movements continue in a downward trend. As long as the crypto's level of 58449 cannot be passed upwards, it is evaluated that in price movements below the level of 57210, it can break the level of 55685 and retreat to the level of 53952.
Will Gold Bounce or Slide!hello traders!
Our analysis suggests that gold is likely to be a buy if it breaks out above the resistance level of 2496-2497 and subsequently retests this level as support. On the other hand, if gold breaks down below the support level of 2492-2491 and then retests it, we may consider a potential sell opportunity.
NVIDIA Corporation (NVDA) Monthly Start Analysis - SeptemberOverall Trend: NVIDIA (NVDA) has been trading within a well-defined upward channel on its daily chart, which has guided the stock's price since late 2022. This channel underscores a strong, long-term uptrend.
Moving Averages:
Short-Term: The stock is currently consolidating around its short-term moving averages, which have acted as dynamic support. Despite the recent pullback, the bullish structure remains intact.
Long-Term: The long-term moving averages (likely the 50, 100, and 200-day) are situated below the current price, reinforcing the upward trend. These averages are aligned in a bullish order, suggesting continued strength in the stock.
Pullbacks and Corrections:
Recent Pullback: NVIDIA recently experienced a pullback from its recent highs, which is a healthy correction within an overall bull market. This pullback has brought the price toward the middle of the channel, where it appears to be finding support.
Technical Indicators:
MACD: The MACD indicator is showing a bearish crossover, indicating the potential for continued short-term downside. However, the MACD remains in positive territory, indicating that the broader trend is still positive.
RSI: The RSI has corrected from overbought levels and is now in a neutral zone, suggesting that there's still room for the stock to move higher without entering overbought territory again.
Recent News Impact:
AI and Chip Demand: Recently, NVIDIA has been in the spotlight due to its leadership in the AI space, especially with its GPUs being the backbone of many AI models and data centers. The ongoing demand for AI-driven applications, cloud computing, and machine learning has significantly boosted NVIDIA's revenues and growth outlook.
Earnings Reports: NVIDIA's latest earnings report surpassed analyst expectations, driven by the booming demand for AI chips. The company reported record revenues, particularly from its Data Center segment, which saw substantial growth year-over-year. This strong earnings performance has kept investor sentiment high, even amid broader market volatility.
Geopolitical Factors: There's been some concern about potential restrictions on chip exports to certain countries, which could impact NVIDIA's future revenue streams. However, the company has managed to mitigate these risks through diversification and expansion into different markets. This has been a factor in the recent volatility and pullback but hasn't significantly dampened the long-term outlook.
Product Launches: NVIDIA's continued innovation, particularly with its upcoming product launches in the AI and gaming sectors, is expected to keep the company ahead of the curve. Recent announcements regarding new GPUs and AI tools have been well-received by the market, further bolstering the stock's potential upside.
Prediction and Strategy:
Short-Term: In the short term, NVDA may continue to consolidate or experience a minor pullback until it finds solid support, possibly near the lower boundary of the upward channel or one of the key moving averages. Any significant news regarding AI advancements or geopolitical developments could cause short-term volatility.
Mid to Long-Term: Given the strong fundamentals and positive news flow, the long-term outlook for NVIDIA remains bullish. The ongoing demand for AI chips and data center products, combined with the company's innovative edge, suggests that the stock could continue to perform well. Investors might consider using any dips as buying opportunities, especially if driven by temporary market reactions to news.
Conclusion: NVIDIA remains in a strong uptrend, supported by both technical indicators and strong fundamentals. Recent news around AI demand, earnings beats, and new product launches continue to favor the bulls. While short-term volatility may arise from external factors, the long-term outlook is promising. Investors should monitor news flow closely and consider adding to positions on dips within the upward channel.
Crude Oil Technical AnalysisWhen the USDWTI 4-hour chart is examined; It is observed that price movements continue in a downward trend. As long as the Crude Oil price cannot exceed the level of 75.28, it is evaluated that in price movements below the level of 74.38, it can break the level of 72.90 and retreat to the level of 71.47.
Gold Technical AnalysisWhen the XAUUSD hourly chart is examined; It is observed that the price movements continue in an upward trend downward. It is evaluated that the Gold Ounce price may retreat to the level of 2414 in price movements below the level of 2472, but as long as the level of 2472 is not broken down, it is evaluated that it may break the level of 2532 and target the level of 2588 in price movements above the level of 2509.
DE30 DAX Technical AnalysisWhen 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 the 18292 support level, it is evaluated that the price movements above the 18701 level can exceed the 18971 level and target the 20021 level.
US100 NASDAQ Technical AnalysisWhen the US100 4-hour chart is examined; It is observed that the price movements continue in an upward trend. It is evaluated that the index price may retreat to the level of 18694 in price movements below the level of 19133, but it is evaluated that it may exceed the level of 19923 and target the level of 20936 in price movements above the level of 19335.
Will Gold Prices Bounce Or Slide?The gold market is currently experiencing high volatility, making it essential to exercise caution. Key levels to watch:
- Break above 2523: Potential buying opportunity
- Break below 2518: Potential selling opportunity
Traders are advised to closely monitor these levels and adjust their strategies accordingly. Stop-losses (SLs) are recommended to mitigate risk.
Stay vigilant and adapt to market changes to capitalize on potential trading opportunities.
Gold's Gonna Take a Dip Today, Watch Out!Gold has recently achieved a new high and is expected to experience a correction today, presenting a selling opportunity at the 2495-5494 . However, this downturn is anticipated to be short-lived, as a potential buying opportunity is forecasted to emerge tomorrow, capitalizing on the expected rebound.
#OIL Elliot wave analysisAfter the bearish move that oil prices experienced until the fifth of August, it seems like the price has initiated another bullish move, which currently appears to be an impulsive wave.
However, it should be noted that even if this bullish move is an ABC corrective wave, it makes no difference since the price could still go higher to complete wave C.
Therefore, this bullish move seems probable for now, and we could look for buying opportunities near support levels.
Gold Price Explosion? Key Patterns Indicating Major Moves Ahead!Technical Breakdown of XAUUSD
Overview
The chart presents the price action of Gold Spot (XAUUSD). Key technical patterns and significant support/resistance levels are highlighted to provide insights into potential price movements.
Key Patterns and Levels
Descending Channel:
The price previously moved within a descending channel, marked by lower highs (LH) and lower lows (LL), indicating a downtrend.
The breakout from the descending channel suggests a potential shift in momentum from bearish to bullish.
Support/Resistance Levels:
HTF (Higher Time Frame) Support/Resistance: A crucial level providing a foundation for significant price movements, shown with blue lines.
LTF (Lower Time Frame) Support/Resistance: A lower time frame level within the channel, highlighting short-term price actions.
1HR Double Top: A resistance level around 2458.3 where the price is currently facing a decision point.
Bullish Patterns:
3 Touch Flag: A bullish flag pattern with three touches indicating potential continuation if the price breaks above the resistance.
Daily Bull Flag: A larger time frame bull flag pattern suggests a bullish continuation if the price breaks above the upper boundary.
Liquidity Zones:
Weekly LQZ: A liquidity zone around 2484, which acts as a significant resistance level.
Daily LQZ: A zone around 2348.8 providing a major support level.
Current Market Conditions:
The price is currently testing the 1HR double top resistance. A rejection at this level could indicate a potential short position, while a clear break above could confirm a long position.
Trading Strategy:
Wait for Confirmation: Traders should wait for a clear rejection or break above the 1HR double top to determine the direction of their positions.
Monitor Key Levels: Keep an eye on the support/resistance levels and liquidity zones to gauge potential price movements and market sentiment.
Conclusion:
Gold is at a critical juncture with significant patterns indicating possible major moves ahead. Traders should closely monitor the 1HR double top and key support/resistance levels to make informed trading decisions.
SUPREME INDUSTRIES TRADING IDEACup & Handle Breakout with good volume.
Stock can go as marked on the chart
Technicals
—Bullish Crossover
—Above 20 EMA
—Higher High breakout
—RSI 71
Fundamental
Stock P/E 44.2
ROCE 26.8%
ROE 21.0 %
Market Cap ₹38,226Cr.
educational purpose only!✨
Do your research before making any investment🥂
Trump RFKJ Help Pump Bitcoin In Nashville's Crypto ConferenceBoth U.S. presidential candidates Trump and RFKJ spoke at Nashville's recent crypto conference. Both outlined their strategies going forward should they become the next president. Though different, both had a positive effect on the Bitcoin price as the market pumped beforehand. But now that the conference is at an end, what can we expect from Bitcoin?
You can see from the chart that we are nearing the top of our channel and testing its underside as was expected from the video last week. Now, the question becomes, what's next?
The two most likely scenarios are that a) Bitcoin moves sideways for a week or two in another accumulation phase before breaking up, or b) Bitcoin breaks up sooner than anticipated and starts heading toward our year-end target.
A less likely scenario is that for some unknown reason at this point and time, an event or news item could reveal which would move the price of Bitcoin back down to the bottom of our channel one last time before heading up again.
We live in unbelievable times rn. Anything could happen. But probability lies on the side of Bitcoin continuing its move upward at this moment. End of year target remains $90k+.
Gold buying opportunity#XAUUSD Update..!
Gold price sharply goes down to retest the support zone. Before checking the 2310 - 2312 support zone I expect the price will reach the upper Fvg zone. This time I'm looking for a sell opportunity.
Buy opportunity I expect from 2310 - 2396 - 2389 zone. Because there is also a reasonable Fvg waiting for the price. Let's see guys. The lower time frame has many imbalances in the whole price action. So be aware trading with a lower time frame.