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Supportandresitance

WHY NIFTY WENT UPWARDS TODAY, HERE'S WHY - 26/04/23 Nifty took support from the support line tested by previous day support & day before yesterday's strong resistance after the opening of the day and consequently went upwards a lot due to the support line being very strong due to presence of multiple support & resistances on the last 2 days After that it took resistance from a previous day resistance line and consolidated a lot in the second half But the resistance line being weak due to the presence of only one earlier resistance it was breached during the end of the day and nifty went upwards again
NSE:NIFTYLong
by peace_lover
2
Daily ETH 1DChart - resistance and supportHello everyone, I invite you to review the chart of ETH in pair to USDT, we will focus on the one-day timeframe. We will start by marking the second trend line, from which, as you can see, the price went up, then it is worth defining the main trend, which has not been touched so far, currently, for ETH to beat the main trend, the price would have to exceed around $ 2700. At this point, we will also check what the EMA Cross 50 and 200 indicate, as you can see after a long-lasting downward trend, we have a visible confirmation of the return to the uptrend and despite the current correction, nothing changes. Next, we will define with the blue lines, the uptrend channel in which the price is moving from the last low. Now let's move on to checking where the price should meet support in the event of a continuation of the current correction. And here we can first mark the strong support zone from $ 1848 to $ 1673, but if the price falls below the next support we have at $ 1520 levels, third at $ 1366 and then fourth at $ 1154. Now, in the same way, using the Fib Retracement tool, we will check the places of resistance for the price if the situation reversed and the price started to rise. In the same way, in the first place, we can mark a very strong resistance zone from $ 1916 to $ 2224, which, as of now, the price has not had the strength to overcome, but when it succeeds, we will be able to observe an attack on the resistance at $ 2543, and then a third resistance at the price of $ 2991, and the fourth resistance at $ 3573. Please note the CHOP Index, which indicates that the energy is starting to gain strength after it has been used to correct the price, the MACD indicates the transition to a downtrend. On the other hand, on the RSI, despite the fact that we see a rebound, there is still room for the price to go lower, which may deepen the correction towards the previously mentioned support zone. It is worth watching whether the designated zone will keep the price.
by cryptodailyuk
Will TSLA fill the gap at $146?The current state of Tesla's stock has the potential to go one of two ways. Firstly, there is the possibility of a bounce in the near future which could lead to a nice swing opportunity for traders over the next several weeks. Secondly, there is a gap from 26 Jan from $146.41 to $154.76 which still needs to be filled. It's possible that this may happen next week before buying pressures come in. I am personally a buyer in the gap-fill zone. There is always the chance that the stock could go in either direction. It's important to do your own research and make informed decisions based on your own personal financial goals and risk tolerance.
NASDAQ:TSLALong
by Gaut4m
Could Gold post a new up leg after support hold? Today's focus Gold Pattern Support hold off resistance/trend continuation Possible targets 2040 - 2050 Support 1990.50 Resistance – 2010 – 2040 -2047 Indicator support – Up ticking CCI Price above EMA Gold continues to interest us from 1990.50. This level has maintained support for buyers since the 10th of this month. This area was previous resistance that has now become support. That's a good sign for buyers, and seeing such a strong reaction against sellers is another good sign. Overall we can see a healthy trend structure with price starting to form a new fast trend point above the longer-term uptrend. Buyers continue to build on gains today against weaker USD and stock indexes. Is all of it simple accumulation against a weaker USD, or is there also a flight to gold with stocks moving lower? Price remains above the MA, and the CCI could be poised to move back above the 0 line if we can see buying continue. This could become a support hold push higher if buyers can be posted a solid close higher today. This could also become a new continuation if buyers can hold their drive above support. If we see a new fall below support and if the new forming fast trend is broken, we would be wary of looking for further upside. Buyers need to maintain support and keep pushing to break this week's highs. If we do see a new leg higher, 2040 – 2047 could present resistance. Thanks for stopping by. Good trading, and have a great day.
EIGHTCAP:XAUUSDLong
by Eightcap
Daily ETH 1HChart - resistance and supportHello everyone, I invite you to review the chart of ETH in pair USDT, using the time interval of one hour. First of all, with the help of blue lines, we can mark the sideways trend channel from which the price moved decisively downwards. Now let's move on to marking the places of support. We will use the trend based fib extension tool to mark the supports, and as you can see, we have the first support at $ 1965.16, as the second support we will mark the strong zone from $ 1939 to $ 1896, the third at $ 1865.93, and then we have the fourth support at priced at $ 1827.68. Looking the other way, we can also mark the places where the price should encounter resistance on the way to increases. And here we have the first resistance at $ 2031.12, going further we have a strong resistance zone from $ 2073 to $ 2107 if the price goes up we have the third resistance at $2141.05 and then the fourth resistance at $ 2189.54. The CHOP index indicates that the energy has been used up and is slowly starting to rebound. The MACD indicator remains in a downtrend. On the other hand, on the RSI we could see a rebound and we see that we are staying below the lower limit of the range, which may indicate a temporary sideways trend and moments of rest.
by cryptodailyuk
Daily ETH 4HChart - resistance and supportHello everyone, let's look at the ETH to USDT chart on the 4-hour time frame. As you can see, the price is staying above the local uptrend line. Let's start by drawing a support line in a situation where the correction will deepen, the first support in the near future is TSE:1942 , if the support is broken then the next support is HKEX:1915 , HKEX:1895 and $1871. Now let's move on to the resistance line, as you can see the first resistance is TWSE:2029 , if you manage to break it, the next resistance will be TSE:2072 , TSE:2107 and $2140. Looking at the CHOP indicator, we see that the energy has been used up on the short interval, the MACD confirms the local downtrend, while the RSI shows a strong rebound to the lower end of the range, which can give some rest.
by cryptodailyuk
1
BNB/USDT 4HInterval Resistance and SupportHello everyone, welcome to a review of the BNB chart on a four-hour time frame. With the blue lines we will mark the uptrend channel in which the price is moving. Let's start by marking the support places for the price and we see that we first have support at $337.3, but if the price goes lower, we have another support at $333.8, then at $323.5, then we can see strong drop to around $307.2 Looking the other way, we can similarly determine the places of resistance that the price has to face. And here we see that the price has failed to break through the strong resistance zone from $ 345 to $350 at the moment. Next is resistance at $354.4, third resistance at $358.5, and then fourth resistance at $364. The CHOP index indicates that the energy is slowly regaining strength, the MACD indicates a transition to a local downtrend, while the RSI indicates a rebound, but in this situation we are still in the upper part of the range.
by cryptodailyuk
BTC Analysis of the current correctionHello everyone, I invite you to every Monday's cryptocurrency review. Let's start by checking the current situation on the BTC pair to USDT, taking into account the four-hour interval. First, we will use blue lines to mark the local uptrend channel in which the BTC price is moving. At this point, it is worth looking at the EMA Cross 10 and 30, which confirm the return to the local downtrend, but on the volume, which also indicates a definite advantage of sellers, we can observe that this volume is quite low. Now we can move on to marking support areas in case of deepening of the current correction. And here we see that the price is just before the support at $ 29359, then we have the second support at $ 28850, then there is a strong support zone from $ 28314 to $ 27570, if the zone is broken the next support is at $ 26635. Looking the other way, in a similar way using the Fib Retracement tool, we can determine the places of resistance. The first resistance is at $ 29696, then we will mark the resistance zone from $ 29947 to $ 30660 when it is broken, and the next resistance is at $ 31045. Further we can see an increase to around $ 32117. Please pay attention to the CHOP index which indicates that the energy has been used in the current correction, the MACD indicator confirms the ongoing local downtrend, while the RSI has a strong rebound, which may indicate that the current correction will start to slow down.
by cryptodailyuk
2
Daily BTC 4HChart - resistance and supportHello everyone, let's look at the BTC to USDT chart on a 4-hour timeframe. As you can see, the price is staying above the local uptrend line. Let's start with the support line and as you can see the first support in the near future is $ 29090, if the support is broken we can see a quick return of the price to around $ 27891, but here it is worth noting that the price remains just below a very strong support. Now let's move on to the resistance line, as you can see the first resistance is $ 30159, if you manage to break it, the next resistance will be $ 30711, $ 31152 and $ 31600. Looking at the CHOP indicator, we see that the energy in the current correction has been used, the MACD indicates a downward trend, while the RSI has a strong rebound, which may also indicate the end of the current rebound.
by cryptodailyuk
MATIC/USDT 4HInterval Resistance and SupportI invite you to review the MATIC chart in pair to USDT, as before on the four-hour interval. First, we will use the blue lines to mark the downtrend channel where the price is moving sideways from the downtrend line. Moving on, we can move on to marking support areas when we start a larger correction. And here we are approaching a strong support zone from $1.13 to $1.10, however, if the price goes lower we have a second strong support zone from $1.06 to $0.94, and then we can mark the support line at $0.94. Looking the other way, we see that the price hit the important resistance zone from $1.18 to $1.26, where it immediately turned around. However, if we manage to break out of this zone above, we have the second resistance at $ 1.33, and then the third resistance at $ 1.44. Please look at the CHOP index, which indicates that the energy on the 4-hour interval has been used, the MACD indicates the maintenance of the local uptrend, while the RSI shows a strong rebound right after crossing the upper limit of the range.
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by cryptodailyuk
Daily ETH 1DChart - resistance and supportHello everyone, I invite you to review the chart of ETH in pair to USDT, taking into account the one-day interval. As we can see, the price broke the main downtrend line and then exited the downtrend channel above. We are currently moving in a new uptrend channel. Now let's move on to marking the places of support. We will use the Fib Retracement tool to mark the support, and as you can see we have the first support at $ 1841, when the price goes lower we have a strong support zone from $ 1658 to $ 1507 and then we have support at $ 1364. Looking the other way, we can also mark the places where the price should encounter resistance on the way to increases. And here we have the first very strong resistance at the price of $ 2236, when the price goes up and positively tests it, the second resistance will be encountered at the price of $ 2558, then the third resistance at the price of $ 3010, and the next fourth resistance at the price of $ 3585. It is worth paying attention to the EMA Cross 50 and 200, which indicate the place of return to an uptrend after a long-term downward trend. The CHOP index indicates that the energy has been used. The MACD indicator indicates an ongoing uptrend. On the other hand, on the RSI we have crossed the upper border of the range, which may weaken the further increase in the price and give some moments of rest.
by cryptodailyuk
Daily BTC 1DChart - LONGTERMHello everyone, I invite you to review the current situation on BTC in pair to USDT, taking into account the one-day interval. First of all, using the yellow line, it is worth marking the downtrend that the price has overcome and we are currently moving in the uptrend channel marked with blue lines. Now we can move on to marking the places of support in the event of a correction. And here we see that we have the first support at HKEX:27 ,017, when the price goes lower, the second support is at $24,821, then the third support is at HKEX:23 ,030, and below we have the fourth very strong support at HKEX:21 ,181. Looking the other way, in a similar way using the FIB Retracement tool, we can determine the places of resistance. First, we will mark the resistance zone where the price is currently from HKEX:28 ,000 to HKEX:31 ,754, when it manages to break it, the price may encounter resistance at HKEX:35 ,625, then resistance at HKEX:41 ,172 and a fourth resistance at HKEX:48 ,221. It is worth paying attention to the EMA Cross 50 and 200, as we can see when the yellow line of the EMA Cross 50 crossed the blue lines of the EMA Cross 200 from below, this confirmed the entry into an uptrend after a very long decline. Please pay attention to the CHOP index which indicates that we still have the energy to continue the move, the MACD indicator indicates a return to the uptrend, while the RSI has touched the upper limit of the range, which may affect the price going sideways or give a small rebound.
by cryptodailyuk
1
ALGN - Will earnings be the catalyst?ALGN gapped up strongly on Earnings beat during its last earning on 1st Feb23. It then subsequently corrected and partially closed the gap, finding support eventually @ 297 the previous neckline region (now tuned support) and also right at the 38.2% fib retracement of the big recent upswing AB. Since it's last Earnings, the stock had been wedging in a range but what is clear is that the bogger trend is likley still on the upside as there was a Golden Cross that occured on 14 Feb (nearly 2 month ago) with both the 50 and 200 day MA sloping up now (mild slope for the 200 day MA as it will take a longer time to refect the new trend). Plus the fact that the stock has been holding above it's basing formation neckline. Any dip back towards the neckline region (297-303) could be an opportunity to long. I suspect the coming earnings expected on 26th April could provide the catalyst to propel it above this trianglle pattern. However, trade earnings at your own risk. If trade works out, I will be watching to scale out (partially) from 425 - 455, and manage the rest of the position with trailing stops. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NASDAQ:ALGNLong
by Juliac
DOT/USDT 1DInterval Resistance and SupportHello everyone, I invite you to view the DOt/USDT chart on a one-day time frame.. First, we will use the yellow line to mark the downtrend line from which the price went up. Moving on, we can move on to marking support areas when we start a larger correction. And here we see that the price is just below the first support, then we have a support zone from $6.11 to $5.93 in front of the price, third support at $5.74, and then fourth support at $5.49. Looking the other way, we see first resistance at $6.53, then second resistance at $6.86, then third resistance at $7.32 Please look at the CHOP index, which indicates that we have a lot of energy for the upcoming move, the MACD indicates that we have entered an uptrend, while the RSI has left the downtrend.
by cryptodailyuk
Daily BNB 4HChart - resistance and supportHello everyone, welcome to a chart review of BNB vs USDT on a four-hour time frame. First of all, using the blue lines, we can mark the local downtrend channel in which the price is currently moving. Now let's move on to marking the places of support. We will use the Fib Retracement tool to mark the supports, and here it is worth marking the support zone in the first order where the price is from $ 315.5 to $ 305.8, the second support at the price of $ 296.3, and then the third support at the price of 282, $6. Looking the other way, we can also mark the places where the price should encounter resistance on the way to increases. And here we have the first strong resistance at $317.6, then we can mark the resistance zone from $323.2 to $328.7, when it manages to break it, the next resistance is at $336.5, and then the fourth at $346 $6. The CHOP index indicates that the energy has been used. The MACD indicator is in an uptrend. On the other hand, on the RSI we see a rebound to the lower part of the range, which creates room for new increases.
by cryptodailyuk
1
Daily BTC 4HChart - resistance and supportHello everyone, let's look at the BTC to USDT chart on a 4-hour time frame. As you can see, the price has bounced off the local downtrend line. Let's start with determining the support line and as you can see, it is worth marking the support zone from $27993 to $27710 first, if the support is broken then the next support is $27481, $27260 and $26929. Now let's move to the resistance line, and here too we can mark the resistance zone from $28275 to $28593, if you manage to break it, the next resistance will be $28911 and $29357. Looking at the CHOP indicator, we see that we have a lot of energy to move further, the MACD is on the verge of returning to an uptrend, while the RSI is in the middle of the range and we can expect a small price rebound.
by cryptodailyuk
1