SAUDI BASIC INDUSTRIES daily analysisHi friends
the daily analysis shows that it will experience with a high probability an uptrend but at the same time you have to be vigilant of the change towards the opposite direction
Tadawul
SQEEZE ZONE IDENTIFIED - TOP RANGE BROKEN DOW- TADAWUL TASI 30MN#tadawul #TASI #squeeze #pullback #downtrend
The red line identifies a probable zone of squeeze and pull back. If it is broken down, there is strong probability to see the price going down further.
The blue up trending line and the two other blue horizontal line helps you to get the story for a day trader on the TASI. After a super squeeze, the market price went up and then ranged for a while before losing some power and going under the up trending blue line. Later on we observed the price ranging and going down strongly with a very significant move. Probability of people taking profits all together. I might not be done yet. The rend zone down there is probably a pivot point. Decisions are to take from there.
Waiting for price movement and clear trend would be advantageous.
For the moment we have probability to see the price going down further, ! checkpoint being traced by the red dotted line.
The only problem for now is the less volatilityWith this simple price action, we can estimate that the market can go higher,
The major confirmation that we will need is to see a greater volume provided by the buyers.
Ranges Identified - See Market Music - #TADAWUL - TASI - WEEKLY#tasi #tadawul #tadawulindex #tadawulcours #tadawulbourse #arabicstock #stock
Do you like music? See how the chart is harmoniously playing.
This #TASI is moving in #ranges, at one moment in one range then strong push to another one.
The blue lines are the next possible #ranges. At the moment the price is at a very critical price. It can pullback to go down or break the resistance to go up.
The orange line is a probable very very strong #support. The market is moving above it at the moment. We have more #probability to see the market going up, but as the market goes away from that line it can come back to it. It is acting like a possible @gravity #center #price line.
Extra blue down trending line have been traced to show you what is the music of this market as those two lines are 100% paralleled. Do you see the same music?
Watch out closely in the next week We are near a strong resistance level at the price 17, be aware of it because this level is much respected from the last year, but if we saw again a gap in the price with a break of the price 17, then the market will repeat the previous bullish channel ,with a high probability
WE NEED TO RESPECT THE PRICE ACTION MOVEMENT TO STAY PROFITABLE WE NEED TO RESPECT THE PRICE ACTION MOVEMENT TO STAY PROFITABLE IN THIS MARKET,
Zein Analysis For The Next WeekI think that we are in a good place to buy but all we need is that the price must be up to 13,31 and then we can enter and put at least the level 14,07 as a target and it may vary regarding the behavior of the market in the next week
AN EASY QUIZ FOR THE NEXT WEEK I think that we should prepare to buy at the price 7,80 and put the price of 8,38 as a target and that may vary regarding the behavior of the market in the next week for the SL we can put 7,24,
PS: after the butterfly we saw that the market give us a strong bearish wave and then again the market did a remarkable correction with the breakout within the level 50% of the Fibonacci
Saudi Ceramic Analysis & Forecast We need a good candle in term of Body/Volume to judge that the market will change the trend
This is what professional do That would be an easy profit,
PS: the target level it is just a primary and may vary regarding the next behavior of the market
WE ARE IN A SIDEWAY POSITION AND WE NEED TO GET OUT OF IT ASAPWe need to get out from this sideway position to get a clear view about the market, but as a first view,
the market will breaks the upper of this range with a high probability
BUY AFTER THE RESTEST AT THE LEVEL OF 78%Dear all,
I think that we have to spot a good entry point within the level of 78%
kind regards
A BULLISH MOVE WILL COME WITH A HIGH PROBABILITYNow we need the last confirmation to enter in a buy position, the next candle must be above the 50% of the fibonacci and then we can enter in the market because we can expect a bullish move with a high probability
WAIT UNTIL YOU SPOT A GOOD ENTRY POINTWe need to wait further more until the market reach the range of the oversold profile then we can spot a good buy entry and take a wise investment
