caljosh1

caljosh1

Are we looking at the end of the 1 year gold run that started in October 2023 at around 1600 all the way to 2800. Are are seeing the top of the structure - and RSI weaknesses. It is my strong belief that Gold already saw its peak on the week of October 28th 2024. It has ample room to correct. A 32.5 correction should take it to the 2300 levels. A 50% move...

caljosh1 Updated 

Reliance has shown a classic Head and Shoulders top - which usually means an ensuing correction. The correction target is around 1250

caljosh1

Providing some more analysis. Current NIFTY target is 23000, if it breaks that level, the next major support target is 21500.

caljosh1

NIFTY is showing a classic Head and Shoulders top. it's also below its 50 day moving average and now approaching 150dma. We could see a confluence of the H&S target with the 200 dma in the next few weeks.

caljosh1

Nifty seems to be in a class H&S pattern. We could see 23000 if this is true. Also it is now below its 50 day moving average and approaching its 150day. Closest support could be around its 200 day moving average which also could confluence with the H&S target.

caljosh1

Is Nifty forming a classic H&S pattern, if so the target could be around 22300

caljosh1 Updated 

XAUUSD is in a sideways zone. After the consolidation period ends (maybe 1 to 3 weeks) two possibilities exist.. - if it breaks resistance above 21389. It will confirm a continued UP trend - if it break support below 2282 and confirms a head and shoulder at the top and a new downtrend would begin

caljosh1

XAUUSD is under signficant consolidation.. If it breaks below support at (xxx) we should see a significant correction. The price would also have formed the H&S pattern at this point.

caljosh1

UMC is showing higher and higher levels of support with a strong upwards bias. It is now again testing the resistance area. A breakout above this area may be imminent. BCBA:TSMC is its major competitor (by a long shot) and is in similar industry group.