A support we have low and a resistance above that has been broken.Now we have no choice but to wait and see what the price does later. I love you! ; )
The price has broken below the 1W trendline, confirming a bearish scenario. After a fake breakout, the price moved downward and is now targeting 2551 and 2283. A breakdown below these levels could accelerate the decline. RSI shows weakening momentum, MACD signals a bearish crossover, and EMA 50/200 suggest further downside. Fundamentally, zinc prices depend on industrial demand, macroeconomic conditions, and USD strength. The main scenario is a drop to 2551 and 2283, while a recovery above 2900 could push prices toward 3100.
The color levels are very accurate levels of support and resistance in different time frames, and we have to wait for their reaction in these areas. So, Please pay special attention to the very accurate trend, colored levels, and you must know that SETUP is very sensitive. BEST, MT
Support seems firm at $80. I'm looking for a test of the big round number of $100, could go higher, but as a trade this seems like a likely target.
The Japanese yen has gained ground on Tuesday. In the North American session, USD/JPY is trading at 149.27, down 0.47% on the day. The yen was red-hot in the fourth quarter of 2024, gaining a massive 9.5% against the US dollar, but has reversed directions in Q1, declining 4.7%. The Manufacturing Tankan index indicated that confidence among manufacturers eased to 12 in Q1 2025, down from 14 in the previous quarter. This was the lowest level in a year, reflective of growing concern among Japanese manufacturers over US tariff policy. The Non-manufacturing Tankan index, meanwhile, moved in the opposite direction, climbing to 35 in Q1, up from 33 in the Q4 2024 release. This was the fastest pace of growth since August 1991, as companies are increasingly passing on costs to consumers. The mixed Tankan report is unlikely to change the cautious stance of the Bank of Japan, which has expressed concerns about the uncertainty caused by the threat of additional US tariffs. The BoJ held rates steady in March and the next meeting is on May 1, with the markets projecting another hold. US President Donald Trump has threatened to impose wide-ranging tariffs on April 2, leaving US trading partners and the financial markets highly anxious ahead of what Trump has declared "Liberation Day". It is unclear which countries will be targeted or what the tariff rates will be, which has only added to financial market jitters. If Trump goes ahead with the tariffs and targeted countries retaliate with counter-tariffs, we will be one step closer to a global trade war. USD/JPY has pushed below support at 149.65. Below, there is support at 149.02 There is resistance at 150.59 and 151.22
NASDAQ - Pull Back ABC - Long We can take advantage on this pull back
we are probably marking the bottom by posting this. current US market conditions have prompted us to scout for shorts. FFIN provides us a classic (arguably) Heads & Shoulders pattern. a close above the right shoulder could invalidate the pattern. PT of $25.65 was derived by measuring the distance between the neckline and the head and transposing it to the downside. the bulls will rightly point out the fact that price is bouncing off support. the bear will counter by questioning the sustainability of the bounce .
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