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Trend Line Break

GOLD → Sales may continue. Target 2150?FX:XAUUSD is moving out of the sideways range downward. The price is testing 2328 within the framework of correction on the background of news. Earlier, the structure of the bull market was broken, which in general can determine the medium-term potential. “GOLD → Bears win. Downward counter-trend correction ↓” The price is testing 2328, which is actively defended by sellers on the background of correction and sell-off wave. Yesterday the price of metal gained a little strength on the background of PMI, but the reaction may be already exhausted, it can be seen on the set-up relative to 2328. The technical downward movement may continue, as the nearest potential target on D1 may be the 2150-2175 area. Resistance levels: 2328, 2333 Support levels: 2316, 2305, 2267 The fall may continue. I pointed out the reasons for the fall yesterday and it is related to either stopping the rally or profit taking at 2400. The bullish structure is under threat, there is a strong sell-off in the market. Regards R. Linda!
FX:XAUUSDShort
by RLinda
5
BITCOIN → Continued consolidation before a strong move BINANCE:BTCUSD is testing 71572 and forming a false breakout, I have emphasized our attention to liquidity above this level in a separate idea. Trading inside the range after capturing liquidity continues and the market appears to be preparing for a halving. (April 6 idea: BITCOIN → Trading inside a sideways flat. ↑ 75K or ↓ 60K?) The false break of resistance and 8.5% retracement indicates that the coin is not ready to go up yet, but at the same time it is not ready to go down, as indicated by the MA-50 retest and the candlestick pattern, which can be interpreted as the activity of strong buyers protecting the market from falling. On W1 we see a strong growth, which gradually turns into consolidation and does not give any correction or technical pullbacks - this indicates the strength of the market, the bulls are watching the price and continue to stand in their bullish stand in order to throw the price even higher. Resistance levels: 71572, 73679 Support levels: 0.236 fibo, 64545, 61447 After the resistance retest, the market may be interested in the lower zones from the liquidity point of view. Bulls are actively defending them and holding the price, but before halving the price may try to drive it lower in order to liquidate traders and accumulate potential before further strong price movement CME:BTC1! BINANCE:BTCUSDT CRYPTOCAP:TOTAL CRYPTOCAP:TOTAL2 Regards R. Linda!
BITSTAMP:BTCUSDLong
by RLinda
41
USDCHF → Breakthrough readiness. Target 0.925 ↑FX:USDCHF looks stronger than the dollar. The Swiss franc is weakening strongly due to fundametal reasons. The bullish trend may continue with a break of 0.9142 On D1 earlier we saw a trend change, after which the market went into a consolidation phase and reached 0.9147. The market resistance continues to hold the price, but against the background of compression and gradual approach of the price on the background of volume growth, the sellers have less and less chances to hold the resistance zone. A break of the mentioned line will activate the realization and distribution phase, which will give us a bullish momentum. Resistance levels: 0.9142, 0.9147 Support levels: 0.9089, 0.9020 Technically, a compression to resistance in the format of an ascending triangle is being formed. Impulse activation zone - resistance breakout. Regards R. Linda!
Long
by RLinda
2
USDJPY → A strong buyer is willing to go higherFX:USDJPY does not pay attention to the behavior of the American dollar. The focus is on the Japanese yen. The currency is in a strong sell-off and continues to get cheaper, while a beautiful set-up is forming on the chart. Rising triangle in the global perspective and in the short term: on D1, on H4 and on H1. A beautiful situation, when the chart lives its own life and practically does not react to the behavior of the US dollar, which starts the correction from a strong resistance. The trigger level for the Japanese Yen is 151.94, the break of this resistance will cause the formation of a strong bullish impulse. The structure will break when the support at 151.15 is broken, but not about that for now. Resistance levels: 151.78, 151.94 Support levels: 151.15, 150.8 Technically and fundamentally, the Japanese Yen is weakening and will continue to weaken despite the change of actions of the central bank of Japan. The currency pair may renew the high in the medium term. Regards R. Linda!
Long
by RLinda
61
GOLD → Bears win. Downward counter-trend correction ↓FX:XAUUSD is entering the correction phase. Earlier, based on technical and candlestick nuances on D1, I warned about the approaching decline. Gold is eliminating buyers and apparently heading towards 2267, 2228. April 19 idea: The market is getting ready to turn around, collecting liquidity from buyers On H1 the price is forming a bearish momentum, since the opening of the session on Tuesday, the price has overcome a 1.8% retracement. The reasons for the fall may be both profit taking in the 2400 zone, after which the market maker changed the course to liquidate traders and balance the market (I remind - at the moment the imbalance is in favor of buyers), and the correction after a strong rally, the price is heading downward in order to find strong support zones and form a market bottom. Resistance levels: 2300, 2305, 2328 Support levels: 2267, 2250, 2228 Today traders are waiting for PMI. Positive data for the dollar will only strengthen the fall of gold, but the negative PMI will weaken the strong fall. But, in general, at the moment, the medium-term course of the metal is clear to everyone. Regards R. Linda!
FX:XAUUSDShort
by RLinda
20
GOLD → The structure of the bull market is at risk. 2300??FX:XAUUSD is breaking the bullish trend structure, earlier I pointed out that the market is preparing for a reversal amid liquidity capture at the expense of buyers. The market is testing support for a breakout Idea from April 19: GOLD → One step away from a correction? What's going on? Selling since the opening of the session. Price is testing local lows and forming an entry into the risk zone. Possible shakeout before the subsequent fall. Last week a major player was collecting liquidity at the expense of buyers, this can be seen in the long tails of daily candles, volumes and trading relative to the 2400 zone. At the moment we should pay attention to the zone 2354 - 2365. There may be an active struggle in this zone (shaking, level sawing, long consolidations), but now there is a prospect of correction to 2330, 2300 Resistance levels: 2365, 2400. Support levels: 2354, 2328, 2300 Technically, strong sellers are emerging in the market and they are building limit resistance zones. The market is not ready to pass through 2400 yet, so we should wait for a sideways range or correction Regards R. Linda!
FX:XAUUSDShort
by RLinda
12
EURUSD → The fall may continue from the nearest resistance FX:EURUSD is forming a bearish trend amid a fundamentally strong dollar index, which is in a bullish rally phase, which is generally negative for the euro. Price broke a strong support line earlier on the global timeframe. Consolidation is formed below the line, which in general determines for us a medium-term perspective, the target of which may be 1.052, behind which there is a huge pool of liquidity. On H1 the price is forming a sideways flat and before a further fall there may be a retest of the resistance in order to capture liquidity. Resistance levels: 1.0700 Support levels: 1.0600 Technically, before further decline the price may test the resistance of the range on the background of stopping the growth of the dollar, but in general, there are no reasons for a change of trend and accordingly, with a high degree of probability, the decline may continue. Regards R. Linda!
Short
by RLinda
3
GOLD → One step away from a correction? What's going on?FX:XAUUSD is stopping after a strong rally. The price tests 2400 and forms a local maximum, but what is surprising is that the market does not let the price beyond 2400 yet. The market is starting to gain liquidity at the expense of the buyer. Price comes back into the range after attempting to break 2400 and eliminates the buyers. The first bells are appearing for a possible start of correction after a strong rally. At the moment it is worth paying attention to the range 2365 - 2400, there is a chance that the price will stay inside this corridor for some time. Since the trend is bullish, we should still expect growth in the future, but there is a risk and panic area on the chart, if it is broken through, a deep correction to 0.382 Fibo or 0.382 on D1 may start. Resistance levels: 2400, 2418, 2431 Support levels: 2365, 2300 The bullish trend is in priority and it is worth to build your trading strategy in relation to the trend. False break of 2365 and consolidation above 2372 may favor the growth, as well as break and consolidation of the price above 2400. But the chart is beginning to show the preconditions for a possible bearish correction. We continue to watch the level of 2365. Breakdown, updating of the local minimum of 2352 and consolidation of the price below this area will form a downside potential TVC:DXY COMEX:GC1! COMEX_MINI:MGC1! MCX:GOLD1! Regards R. Linda!
FX:XAUUSD
by RLinda
4
What affects the direction of gold?World gold prices tend to decrease with spot gold down 2.4 USD compared to last week's closing level to 2,388.8 USD/ounce. The world gold market last week fluctuated according to a familiar pattern. Gold prices continuously touched new highs thanks to being boosted by shelter demand due to fears of escalating tensions, but then retreated and entered a consolidation phase. Kitco News' latest weekly gold survey shows that both Wall Street experts and retail investors continue to believe in the precious metal's strength, with 71% of Wall Street experts and 64% of general investors. Retail participants participating in the survey forecast that gold prices will increase this week. According to SIA Wealth Management market strategist Colin Cieszynski, risks remain significant and could trigger market rallies. Sharing the same opinion, senior commodities broker Daniel Pavilonis of RJO Futures also said that geopolitical conflicts will continue to push gold prices up even if there is no immediate escalation. Market analyst Everett Millman of Gainesville Coins said that developments in the Middle East are still the main factor affecting the direction of gold this week when there is not much economic data published. Expert Millman believes that, before the June monetary policy meeting of the US Federal Reserve (Fed), the market will put aside anything related to interest rate expectations until the situation is resolved. in the Middle East is really calming down.
OANDA:XAUUSDLong
by FalCol_TradingMaster
1
WKHS a risky penny EV StockWorkhorse could start working again as the 50 minute chart is showing a suggestion of a reversal after a long trend down. Price has passed over the longest moving average which is a SMA20. The EMA cloud ( 100, 200, 300) is starting to turn up and price has crossed over it. All in all, there are some golden crosses here. Blue buying volume spikes are seen on the relative volume indicator and they are about six times the running mean. In a bit of divergence the price volume trend has oscillated up. Overall, this is a penny stock with a price under $ 1.00 It appears to be starting a trend up. I will zoom into a lower time frame and find a optimal entry. I amy get call options as well. The risk in the trade should be limited by a stop loss wide enough to allow for a true range or even twice that. My target is about 1.15 the price level at the time of the last good earnings report. This is about 300% upside. It will probably never get there but hay you never know. Stranger things have happened.
NASDAQ:WKHSLong
by AwesomeAvani
8
VEDANTA cmp 257, target of 300 ++ in 10-15 trading sessionsVedanta Ltd is a diversified natural resource group engaged in exploring, extracting and processing minerals and oil & gas. The group engages in the exploration, production and sale of zinc, lead, silver, copper, aluminium, iron ore and oil & gas. It has presence across India, South Africa, Namibia, Ireland, Liberia & UAE. Its other businesses includes commercial power generation, steel manufacturing & port operations in India and manufacturing of glass substrate in South Korea and Taiwan. Vedanta is the market leader in production of Nickel in India. Below are the revenue-mix details of various businesses: 1. Zinc, Lead & Silver (25% of revenues) It runs its Indian Zinc operations through its subsidiary, Hindustan Zinc Ltd (HZL) in which it owns ~65% stake. HZL is the largest primary zinc producer in India, with an expected 80% market share in 2022.One of the most notable achievements has been the successful commissioning of a 3000 KLD Zero Liquid discharge (RO-ZLD) plant at the Zinc Smelter Debari 2. Oil & Gas (9% of revenues) The Co. is India’s largest private sector crude oil producer. It accounts for ~25% of the total crude oil production of India. 3. Aluminium Business (39% of revenues) Vedanta has the largest aluminium installed capacity in India at 2.3 mtpa. It has a 47% market share in India among primary aluminium producers. Mines - Via BALCO, the company has 2 bauxite mines with capacity of ~2 MnTPA of bauxite and a coal mine to capacity of 1 MnTPA. 4. Power Segment (4% of revenues) Its flagship power project Talwandi Sabo Power Ltd (TSPL) is located in Punjab. The company has 25 years of long-term power purchase agreement with Punjab State Electricity board 5. Iron Ore Segment (5% of revenues) Vedanta is one of the largest merchant iron-ore miners in India. 6. Copper Business (12% of revenues) This includes refinery and rod plant Silvassa consisting of a 133,000 MT of blister/secondary material processing plant, a 216,000 tpa copper refinery plant and a copper rod mill with an installed capacity of 258,000 tpa. Its international copper operations include a copper mine in Tasmania, Australia which remains under care and maintenance. It is evaluating various operations to restart mining operations. 7. Other Businesses (6% of revenues) The Co. is also engaged in the business of steel manufacturing and port operations in India and manufacturing of glass substrate in South Korea and Taiwan. Upcoming Growth & Projects: Vedanta has a strong pipeline of growth projects and is incorporating future enabling businesses in its portfolio. In the Oil & Gas segment, the Co. intends to undertake new growth capex projects worth $687mn. In the Aluminium segment, it intends to incur a $1.4 bn growth capex over 2 years. This includes aluminium capacity expansion to 3 MTPA by Q3 FY24, Alumina capacity expansion to 6 MTPA by FY24 & 100% operationalization of 3 coal mines in a phased manner by Q3 FY24. The company is focused on community development and achieving a greener business model. Vedanta achieved a 5-point improvement in the S&P Global Corporate Sustainability Assessment Index. Current Performance and News: Vedanta reported strong financial results for Q2 FY '24, with highest ever second quarter consolidated revenue, EBITDA, and PAT. Operational performance was strong across all businesses, with healthy production and cost control. The aluminium sector delivered one of its best quarters in terms of production and operational efficiency. Hindustan Zinc remained in the first decile of the cost curve globally, with further cost reductions. The oil and gas business delivered stable production and reduced operating expenses through optimization. The iron ore business saw higher sales and margin expansion. The company received a favourable arbitration award in its oil and gas business, resulting in a positive impact on revenue and EBITDA. The INR4,600 crores gained from the arbitration award will be realized in cash over the next few quarters. Vedanta Limited has upcoming debt maturities of around $1 billion in the next two quarters, but the company feels comfortable in managing refinancing or repayment. Vedanta Limited's Board has approved the proposal to demerge the business into six independent listed entities. Key Ratios: Market Cap - ₹ 95,606 Cr ROCE - 21.2 % ROE - 20.4 % Dividend Yield - 39.2 % Debt to equity - 2.38 Stock P/E - 19.3 Industry PE - 17.5 Conclusion: Technically, the strong price pattern at the bottom and then there is a trendline and price pattern breakout with huge volumes and there is change in price structure from lower highs lower lows to higher highs and higher lows. This itself gives strong conviction to buy at current levels and add more on dips if it comes. Vedanta is the market leader in the commodities segment and looking at the current market scenarios where metal, oil & gas and power sector are doing well due to various macro-environment factors and the company's improvement in profit and profit margins, various growth prospects, debt repayment being taken cared of and demerger benefits, the stock at current market price of 257 is a strong value buy for a minimum target of 300 in 10-15 trading sessions, which gives return of 16% in just 2 weeks .
NSE:VEDLLong
by PrashantDahale
1
GOLD → Range 2365-2400. Will the price continue to grow? FX:XAUUSD is trying to consolidate above 2365. This area is an intermediate bottom and plays an important role for the bulls in the medium term. The range of 2365-2400 is being formed. Idea of Apr. 16: GOLD → There's no limit to the bulls' activity. Support retest In general, everything is the same, but after a strong rally, the price makes a small stop and starts to enter liquidity zones more often, which has not happened for 2-3 weeks. Apparently, the energy is exhausted and the market maker starts to collect liquidity from the market with the help of traps. Gold is still trading above key support levels and looks strong enough to test or even renew the global high Resistance levels: 2395, 2400, 2430 Support levels: 2365, MA-200, trend support The price is testing MA-200 and forming a false breakdown of 2365. The market reduces volatility and goes into the waiting phase before the news, the growth may continue either after the support retest or at the breakout of 2380. Regards R. Linda!
FX:XAUUSDLong
by RLinda
7
GBPUSD → Weak pound sterling will test new lows FX:GBPUSD is going to leave the sideways range with the negative fundamental background. On D1 the price is breaking the trend line, and at the same time the dollar is conquering new highs. The pair is declining amid the strengthening of the dollar index, which is connected with the news on inflation. The medium-term outlook is defined and thus gives us an indication of a possible decline. At the moment the key area is the zone of 1.2518. A breakout and consolidation of the price below this zone will be a confirmation of the bears' intention to go even lower. The pound is weak and may update the lows. Resistance levels: 1.25697 Support levels: 1.2518, 1.24489 Technically, amid the strong dollar, the pound is testing new lows and is preparing to go even lower. I do not think that the bulls at 1.2518 will hold the price for a long time. We are waiting for a breakout and further decline. Regards R. Linda!
Short
by RLinda
2
MSFT’s Momentum Weakening: Where’re the defending levels? Trend - On the weekly chart: Still within the large uptrend channel since January 2023. - On the daily chart: The minor uptrend channel since October 2023 was broken with moderate volume. - Although the long-term uptrend remains intact, the short-term momentum may be pausing. 100% Symmetrical Projection: Uptrend “N” Patterns - There are two price projection models, both leading to the same ultimate target price of $457. The large purple N, starting from January 2023. The small orange N, starting from October 2023. - Symmetry break : If the price drops below the prior low at $400, the symmetry (the pullback) is violated. Following that, with increased uncertainties, anticipating the price action will become challenging. - If the momentum is strong, we could expect a clear price movement toward the target price once it surpasses the symmetrical retracement box at $421. However, the price is currently hovering around $421, indicating weakening momentum. N Pattern’s Target Price & Fibonacci Price Cluster - Both N patterns are an A+ setup . Retrace 0.382 of the prior swing and then continue to rise. - The level of 1.618 Fibonacci projection of the prior swing is the N’s target price. - The level of 2.618 Fibonacci extension of the retracement is the N’s target price. - The price treats the key Fibonacci levels as significant support and resistance levels along the way up. Conclusion - Currently, the momentum is weakening, though not yet exhausted. - Once the price breaks below $400, the short-term momentum will be exhausted, potentially leading to a trend reversal. - In the long term, for MSFT to sustain the uptrend, the price should remain within the large uptrend channel and above the price level of $367. **Not Financial Advice** The information contained in this article is not intended as, and should not be understood as financial advice. You should take independent financial advice from a professional who is aware of the facts and circumstances of your individual situation.
NASDAQ:MSFT
by stock_adelie
GOLD → There's no limit to the bulls' activity. Support retest FX:XAUUSD is trading exclusively in a bull market. Quick and temporary reactions to the news are quickly exhausted and buyers regain the upper hand on the metal's price. Yesterday the price made another retest of the support at 2330, which has the status of an intermediate bottom. This area held the price and after that the market returned to its true direction. On the background of activity of dynamic buyers the price tests 2390 and forms correction to the support. From 2365 the continuation of growth within the uptrend is also expected. Today from the news only the speech of the head of the Fed at 17:15 GMT. Support levels: 2365, 2330 Resistance levels: 2390, 2400 Technically, a retest of the support is forming on the background of the uptrend. The 2365 area plays an important role, as the market earlier emphasized the presence of this area. A false breakdown before further growth is possible. Regards R. Linda!
FX:XAUUSDLong
by RLinda
10
EURUSD → CPI ahead. What should we prepare for?FX:EURUSD is testing 1.0864 for a breakout. The price is heading towards downtrend resistance. Unpredictable CPI ahead, but technically the currency pair could bounce back down. All eyes are on the consumer price index today. Traders expect a strong decline in the CPI from 0.4% to 0.3%, which generally indicates the state of inflation and is a strong lever for the Fed when making interest rate decisions. Dollar index continue to decline amid news expectations, which makes the euro strengthen towards resistance. There is a high probability to see neutral-positive CPI data, which may support the trend of the currency pair. Resistance levels: 1.08643, channel resistance, 1.09374 Support levels: 1.08027, 1.07365 Technically, on the background of the news, the price may test the resistance of the downtrend and after capturing liquidity to continue the decline to the targets indicated on the chart. Regards, R. Linda!
Short
by RLinda
2
GOLD → The price is not falling on the US news. Target 2450?FX:XAUUSD is showing strength as a hedge asset. The price continues to indicate to us that it intends to go even higher. The market is cleaned up after the shakeout and the big player continues to play his game. (Idea from Apr.16: GOLD → There's no limit to the bulls' activity. Support retest) Bulls form another intermediate bottom at 2365, building a limit support area. The price bounces and strengthens almost to 2400. Gold shows itself as a safe asset and finds interest from investors. On H1, the price breaks local resistance and heads towards 2400. At the moment, the market's target is to break 2400 and reach the liquidity area of 2431. Resistance levels: 2431, 2400 Support levels: 2371, MA-50, 2365 Technically, this is a strong bull market. It is worth looking for strong support areas to buy or strong resistance areas to trade on a breakout. Potential target is 2400, 2430, 2450. Regards R. Linda!
FX:XAUUSDLong
by RLinda
13
GOLD → A retest of bullish trend support. What to expect? FX:XAUUSD reaches the 2400 mark on Friday before facing a profit-taking. There is a possibility that traders closed positions before the strong news that occurred from Saturday to Sunday. There is no correlation with the dollar now, which makes it easier for technical analysis. In fact, we have a strong bullish trend and strong support in the form of the 2325-2330 zone and an ascending channel line. From Saturday to Sunday there was the development of another geopolitical problem in the Middle East and it is related to the armed crisis between Iran and Israel, which in general can only affect the appreciation of the metal. Resistance levels: 2365, 2375 Support levels: 2335, 2330, 2325 In general, we should consider a retest of the trend support or 2330 and look at the price reaction to these levels. Most likely, the trend may continue. Regards R. Linda!
FX:XAUUSDLong
by RLinda
6