GOLDStill looking bearish, rejection from VAL level, The target should be nPOC/Double Top Pattern Target. This won't come today or tomorrow, it will take months until it gets there.
Metalsanalysis
Nifty Metal Trend AnalysisWeekly closing above trendline support with bullish RSI divergence shows bullish bias.
Potential broadening wedge pattern is more likely to form as highlighted if it sustains above trendline support on weekly timeframe.
If this plays out as expected, then the max upside should be around 7250 level (top of the wedge pattern).
Everyone is having a bearish outlook because of export duty hike on steel (15% on steel & 50% on iron ore).
If you check the fundamentals, most of the stocks have reported highest ever net profits for the last FY making these stocks highly undervalued as per their PE and BV.
If broadening wedge pattern forms and it breaks upside, then the resistance will be around 10500 level and the support will be around 3300 level if breaks downside.
Will see what plays out.
Kindly do your own due diligence before taking any action.
Peace!!
XAU-EUR 6/10/2020Hello guys, welcome to this analysis on XAU-EUR.
As you can see on the chart it appears like Gold has made a distribution pattern since April that got confirmed by a high volume markdown below 1523 last week.
The round arching formations above the 1520 level are usually an indication of weakness and distribution. This can be confirmed by the bearish divergence and series of lower highs and lower lows on the volume and cash flow indicators as well.
Currently, price is retesting the 1520 ish zone of previous support which should act as resistant now. It can be a good entry for a short trade with a target of around 1430.
This trade idea has 3 risk to reward ratio.
Good luck trading :)
MTLBTC a breakout expected | Upto 780% profit possibilityThe MTLBTC is moving within a pennant and now arrived at almost end of this pennant.
Since Nov 2019 the pricline has found another support above the pennant's support and hitting that support at the moment.
The bollinger band is showing sideways movement since Nov 2019.
Stochastic is oversold and already has given bull cross.
The MACD has given weak bullish signals.
The price action is gearing up to hit the sell targets soon insha Allah.
The sell targets are:
1st target: 0.00027
2nd target: 0.00034
3rd target: 0.00040
Final target: 0.00050
Regards,
Atif Akbar (moon333)
aud/usd bullish reversal setupAUDUSD, professionals closed both sides positions for profit taking. price testing support for the month of May 2019. suspect to form double bottom. usdindex has formed top. $index suspect bearish ahead.
Copper Bullish setupcopper making seasonal bottom, professionals open long & short positions, while bank profiting taking by closing both sides. price may go further dip to catch stop losses.
