gmaster29

gmaster29 Updated 

Natural Gas has been consolidating since Mar 2023 and has formed a round bottom. I expect NG to hit the first target $3.0 within next 1-2 weeks and then consolidate at those levels before the hitting target $3.6, which will be a conjunction of two resistance lines blue and white. Let me know your thoughts in comments.

gmaster29 Updated 

Nasdaq has been coming under selling pressure since the start of August.. I believe it's an oversold condition and there's a technical bounce around the corner.. I see NQ1! might go down a little to fill the gap at 14521 and also bounce off the lower trend line of the parallel channel. Immediate resistance level will be 15000 , once that is broken , next...

gmaster29 Updated 

BTCUSD has recently broken the major support up-sloping (yellow) trend line and bounced off at major support level 25300 (level 1).. I expect BTCUSD to consolidate between 25300 to 27300 in very short term as shown in blue arrows.. before it picks up a direction either upwards or towards.. I have marked 3 support levels in green and 3 resistance levels in pink.....

gmaster29 Updated 

NIFTY CMP - 19310. I expect a small technical bounce for NIFTY in this week to test 19550 levels.. but I believe NIFTY is going to retest the support level 18900 to 18600 in upcoming weeks as the momentum is biased towards downtrend short term..

gmaster29 Updated 

SILVER is getting very close to a strong technical support at $22. It coincides with the lower trend line of the parallel channel (white) and also a lot of pivot lows at this level.. Short term traders can buy it at $22 for a quick bounce to $23.. Aggressive traders can hold till $24.. If $22 support fails, next support level is $21.23.. keep it tight stop loss..

gmaster29 Updated 

BTCUSD CMP - 21818 BTCUSD was consolidating sideways for last 3 weeks between 22300 and 24200 , highlighted in rectangular box and we saw the consolidation break down today. This is a short term trend reversal signal, with immediate target 21478. This was a previous breakout level and should show some support , failure to hold this level will move BTC to next...

gmaster29 Updated 

Natural Gas has dropped more than 43% since start of 2023, it's heavily oversold and hitting a major support zone (2.45 - 2.20 levels) , highlighted in blue box. In my previous post, I had a target of 2.33 as per Fib measured levels. I strongly believe we have seen bottom in NG short term, might go lower some more to test the support zone and build a base....

gmaster29 Updated 

Gold had a good run from lows of 1617 in November 2022 to 1975 in early Feb. It has broken down the parallel channel running from mid Nov to early Feb, highlighted in white color. After breaking down the channel, gold tried to bounce and get back in channel 4 continuous days, but it failed and we got a confirmation candle today. I see gold to sell off short term...

gmaster29 Updated 

SPY futures has given a short term buy signal breaking out of long term parallel channel and confirming above 200 EMA. Bear market rallies are very strong and can be one of the 'Rip your face' rallies. I still believe US markets have much more downside to go and bottom out, but charts are suggesting short term rally to 4175 and 4303.. We have FOMC meeting on Feb...

gmaster29 Updated 

Natural Gas recently hit the critical support at 3.4 and I see strong technical bounce to 4.3 level, hitting down sloping resistance line (red) which also coincides with Fib .618 level. Overall long term sentiment is still bearish, if the NG doesn't break above the 4.5 in upward momentum, we might see it crash towards 2.33 before mid of 2023. Let me thoughts...

gmaster29

Nifty chart has recently broken upward parallel channel (white) and taken support at 200 day EMA.. It has also formed a bear flag. Chart patterns suggest we're looking for a downward momentum short term. My short term targets are 17148 (Fib measured move), 16800 to 16650 (multi month support zone). If the 16500 levels get broke NIFTY will test 16049 (gap...

gmaster29 Updated 

Bitcoin is hammering against key resistance levels at 18500.. Downward channel (white) and horizontal red line.. Breakout from the channel and resistance line will push BTCUSD towards 21000 target close to 200 EMA and previous pivot high.. Failure to breakout will pullback the price towards 13000 hitting the lower end of the white channel. Lot of the price...

gmaster29 Updated 

Crude Oil has seen a recent rally from $70 to $81 current resistance level . It has formed a smaller inverse head and shoulder pattern within the parallel channel. Breakout of the resistance level at $81 could have a best case potential target of $93 ( measured inverse head and shoulder target), which also coincides with previous pivot highs resistance levels (...

gmaster29 Updated 

EURUSD recently broke out the long term downward trend line (White) and is retesting the break out line now. Also EURUSD has been channelling (yellow) in upward price action since mid November. If you look at the chart closely EURUSD is at key inflection point where today's candle is hitting the longer term trend line (White) and also lower end of the parallel...

gmaster29 Updated 

Natural Gas has been hanging on key support trend line (WHITE) running from Jun 2020.. If that level gets breached, expect Natural Gas to hit immediate target $4.73 (Yellow Line). Then eventually we see the targets $3.81 (Orange line) and 3.39 (Green line) in 2023. With economy running into risks of recession in 2023, we'll see pullbacks in NG. We'll not go...

gmaster29 Updated 

US Bonds have been channeling in a perfect downward parallel channel since Mar 2022. It recently hit a key resistance level at $132 and started to pull back. I expect the pull back to continue till $123 and expect a short term technical bounce up to $128. Higher Fed interest rates will continue to have pressure on the Bonds and overall economy. I expect the...

gmaster29

Silver had a pretty good run since mid October 2022 after months long of price consolidation. It has been moving in a upward parallel channel since mid November. It has hit a key resistance level at $24.5 (Red Line) and failed to break out multiple times since Dec last two weeks.. Today the lower channel line got breached and if fails to get back into the...

gmaster29 Updated 

In upwards parallel channel. Right now hitting resistance at 112 levels, might see some pull back for next few days testing 106 levels and 99.5 levels. But upward trends is intact, 126 , 168 levels by Feb 20202.