Price-action
DAX 30 BuyWe are definitely in a bull market! For this week , I expect price to push up to the July high of 13283.70. These are some possible routes it will take to get there:
Scenario 1 -Red arrow
Price shoots up in the early hours of Monday, reaching the August high level of 13103 . Finding resistance ,it will bounce down to the 1300 level which is a significant psychological level (Price already tested this level on the 9th of October and failed to break through) before starting to make a greater push upwards .Once the Aug level of 13103 is broken, price will go unchecked until it reaches 13200 which is another physiological resistance level.
Scenario 2 -Green Arrow
Right off the bet price breaks the resistance at 13103 and pushes up until it finds resistance at 13200 , causing it to fall back to the Aug high level 13103 which then becomes support resulting in a greater push to the upside until price reaches the July high level of 13283.
Scenario 3-Puple Arrow
Price shoots up to the Aug level in early hours of trading but begins to go down by London open, only finding support at the June high level of 12943.53 and then starting a run for the July high level of 12943 with possible resistance at the 13200 level.
Gold: Opportunity To Ride Trend [Flag Pattern]Opportunity to buy Gold as in the chart, I can see Bullish Flag or Falling Wedge pattern.
This patterns are trend continuation patterns.
So, go ahead and grab some gooooold......
If price breaks the upper downward trend line, then buy Gold and sit tight.
Moreover, I am expecting market may crash soon and so, I strongly believe Gold is likely to shine.
Buy AST - Strong Accumulation - Low Risk Entry based on PriceBuy AST - Strong Accumulation - Low Risk Entry based on Price
BankNifty Strong Bearish SignBankNifty looks strongly bearish and 19500 is likely to test soon.
Trend is down from daily time frame to 1 minute. So, I will wait for pullback just to enter a short trade unless it breaks blue trendline.
For the time being, 21000 is the crucial resistance level and 19500 will act as support.
Check out the Blue downward trendline which may act as resistance and Red upward trendline and Black horizontal Line may act as a support level.
However, I strongly believe that 19500 will break and more pain is there.