Gold moved in the range of 2645-2665 yesterday in a tug of war. In today's Asian session, gold price is expected to move in the range of 2650-2665. In the European and US sessions, the range is expected to be 2645-2670.
Trade Setup Overview: Bias: Bearish Key Levels: Entry Zone: Near 154.000 Target (TP): 153.324 (Support Zone) Stop Loss (SL): Above 154.236 Technical Analysis: Key Resistance Rejection: Price has rejected the 154.000–154.236 resistance zone, shown by bearish candles forming at the top of the structure. The resistance aligns with a previous supply zone and forms a strong ceiling for sellers. Bearish Structure Shift: A Break of Structure (BOS) confirms momentum to the downside. A small accumulation phase followed by bearish momentum indicates sellers are in control. Support Target: The TP is placed at the next significant support level (153.324), a key area where price previously reacted. Confirmation Patterns: Bearish Candlestick Formations and rejection wicks suggest further downside potential. Price is trading below the 50 EMA, reinforcing the bearish trend bias.
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bankex for this week on indicies is imp zone valid till 20 dec 2024 in this week we can expect a sharp uprise n moving dnwards till 19 th dec
https://www.tradingview.com/x/9A0gVJUj/ Technical Analysis: 1) All MA200 below prices 2) Price breakout RM6.39 and heading to RM7.57 3) If price stand firmed above RM7.57, might MIGHT head to RM9.10 Do I have patient to wait for it? Without chasing the price? We shall see I like to use 3 windows to view it on monthly, weekly and daily. Easier for me to recall what was my strategy for this chart. https://www.tradingview.com/?aff_id=143185&aff_sub=viki&source=tweeter
NYSE:LW Technical Analysis of Lamb Weston Holdings, Inc. (LW) Key Observations: Current Price Action: Price: $82.24 Recent Drop: -0.44 (-0.53%) Bearish Line: $81.94 Support and Resistance Levels: Immediate Support: $79.78 (Target Price 1) Further Support: $76.45 (Target Price 2) Resistance: The price recently stalled around $83.18, signaling a short-term ceiling. Trendlines: The price sharply broke above a previous resistance level around $79.78, but now shows signs of consolidation below $83. A minor pullback to test lower supports ($79.78 and $76.45) is possible. Relative Strength Index (RSI): Current RSI: ~70 (Overbought Zone). The RSI shows the stock is overbought, which could lead to a short-term correction. Target Prices: Target Price 1: $79.78 A key immediate support level that aligns with previous resistance. Target Price 2: $76.45 A further downside target where multiple moving averages converge, acting as strong support. Summary: Lamb Weston Holdings, Inc. (LW) has shown strong upward momentum but is now consolidating near resistance at $83.18. With the RSI in the overbought zone, a pullback is likely toward $79.78 (Target 1) and potentially $76.45 (Target 2). A close below the bearish line ($81.94) could confirm further downside movement.
The pair is short-term overbought, and stochastic is negative. I feel we may see a test of GANN support 194.70 area. Strategy SELL @ 195.30-195.70 area and take profit near 194.27 for now.
I did a post on this before, but I am reposting because it got a confirmation back-test double-bottom. This is especially good because the local low backtested the high from January 2022. The shark harmonic with a 1.13 fib retrace.
Tao is racing down to retest support @ 440 if Tao rejects this area than you can spot buy or long with target @ 740 and if you are patient enough you can wait for it to retest its ATH.
Hello everyone, Ben here! EUR/USD saw a sluggish upward movement on Monday, drifting towards the upper bounds of its short-term consolidation range just north of 1.0500, though lacking any significant conviction. With relatively limited European data this week, Fiber traders are bracing for a heavy U.S. data docket. In the short term, the trend remains neutral, but prices are consolidating near a critical support level that has held firm for two years. Aggressive rate cuts in Europe are putting pressure on the pair, with expectations set for December 17th-18th. The Fed is widely anticipated to cut the benchmark interest rate by 25 basis points (bps). However, any hawkish signals from the Fed aimed at taming inflation would increase the downside potential for EUR/USD. Support levels: 1.045, 1.033 Resistance levels: 1.060, 1.065 From an interest rate perspective, within the context of a broader downtrend, price has yet to reach the key liquidity zone. Ahead of the news, I anticipate that the price will climb towards 1.060. However, based on both technical and fundamental outlooks, bearish momentum is expected to resume, and a break below the 1.045 support level will solidify the downward trend. Best regards, Bentradegold!