Trading Plan for Thursday, May 16th, 2024Trading Plan for Thursday, May 16th, 2024
Market Sentiment: Bullish, but highly extended and statistically due for a significant pullback after 10 consecutive green days. Proceed with extreme caution and prioritize protecting gains.
Key Supports
Immediate Supports: 5308-10 (major)
Major Supports: 5272 (major), 5253-56 (major), 5200-02 (major), 5145-50 (major)
Key Resistances
Near-term Resistance: 5327-31 (major), 5337 (major), 5370-72 (major)
Major Resistances: 5395-5400 (major), 5430-35 (major)
Trading Strategy
Extreme Caution: 10 green days in a row is statistically rare, and a deep pullback could occur at any time.
Long Opportunities: Avoid chasing long entries at current levels. Focus on potential bids at 5308-10 only after a dip and strong reaction (ideally, a failed breakdown of the afternoon low). Consider deeper longs at 5272, 5253-56, or lower majors only on strong confirmations (failed breakdowns of lows, etc.).
Short Opportunities: While shorting in a strong uptrend is discouraged, those comfortable with counter-trend trades may consider the 5370-72 zone, but only after a bounce/failed breakdown. Proceed with extreme caution.
Prioritize Preservation: Focus on protecting profits and minimizing risk exposure in this highly uncertain environment. Avoid overtrading and wait for high-probability setups.
Bull Case
Ultra Bull Case (Unlikely): ES needs to hold above 5308-10 on any dips, with a new base forming between 5308 and 5331. This would be the most bullish scenario, leading to a potential test of 5337, 5348, then 5370-72.
Bear Case
Breakdown Signals: A convincing break below 5308-10 could trigger a substantial dip. Watch for bounces/failed breakdowns at 5272, 5253-56, and lower major supports for potential long entries if the market rebounds. If 5308-10 fails, consider shorts after a bounce/failed breakdown at 5300.
News: Top Stories for May 16th, 2024
📈 S&P 500 Hits All-Time High: Yesterday, the S&P 500 index reached a new all-time high, closing at 5,253 points. This reflects investor confidence and market optimism driven by favorable economic indicators and expectations of accommodative monetary policy from the Federal Reserve.
🌐 IMF and World Bank Spring Meetings: The International Monetary Fund (IMF) and the World Bank are preparing for their spring meetings amidst ongoing geopolitical tensions and economic uncertainties. These meetings will address global economic issues, including conflict impacts and strategic economic adjustments.
🏦 UN Economic Update: The United Nations will launch the mid-year update of the World Economic Situation and Prospects 2024. This update will assess global economic conditions, highlighting challenges such as high interest rates, debt difficulties, and geopolitical risks.
📊 Wall Street Analyst Revisions: Wall Street analysts are revising their forecasts for the S&P 500 due to the market's unexpected strength. This reflects the dynamic nature of market expectations and investor agility in navigating the evolving financial landscape.
🌍 Critical Minerals Demand: Global economic discussions are focusing on managing the demand for critical minerals essential for low-carbon technologies. This ties into broader sustainability goals and the economic opportunities and challenges for developing countries.
Tradingview
GODL - will continue his bull run? Or not?#GOLD.. market reached at his 3 weeks high.
There is only one area that is 2392 93 around.
So guys keep close it because it's final hope for sellers.
It will be your key level in today and swing level as well.
If market hold it, in that case any kind of selling expected with supporting area of 2378 around.
If not hold then cutt n reverse keep in hand.
Good luck
Trade wisely
Trading Plan for Thursday, May 9th, 2024Trading Plan for Thursday, May 9th, 2024
Market Sentiment: Bullish, but with increasing uncertainty as the market enters a consolidation phase. Expect choppy trading within a defined range. Prioritize patience and focus on level-to-level scalping for small gains.
Key Supports
Immediate Supports: 5203, 5194 (major)
Major Supports: 5177 (major), 5155 (major), 5131-36 (major)
Key Resistances
Near-term Resistance: 5213 (major), 5219 (major), 5229-33 (major)
Major Resistances: 5246 (major), 5263-66 (major)
Trading Strategy
Consolidation Mode: Recognize that the market has shifted from a strong trending environment to a choppy consolidation phase. Adapt your trading strategy accordingly, focusing on small gains and disciplined risk management.
Long Opportunities: Focus on failed breakdowns at 5203 or 5194 for long entries. In the event of a deeper pullback, consider buying the retests of the 5177, 5155, and 5131-36 breakout zone or knife-catches for quick scalps.
Short Opportunities: Due to the bullish trend and the inherent risk of shorting against strength in a bull market, avoid aggressive short positions. Monitor back-tests of 5229-33 or 5263-66 for potential short entries, targeting level-to-level profits.
Focus on Levels and Patience: Trade the provided support and resistance levels with strict discipline. Let price action develop, be patient, and avoid emotional trading. Overtrading within a tight range can lead to losses.
Bull Case
Holding Support: Defending the 5194 level and ideally the 5131-36 breakout zone remains crucial for maintaining bullish momentum. Holding above the lower range boundary would indicate a healthy consolidation and base for potential continuation higher.
Base Building and Rebound: A period of consolidation within the 5194-5219 range followed by a rebound off the lower zone would set the stage for further advances, targeting 5229-33, 5246, then 5263-66.
Bear Case
Breakdown Signals: A convincing break below 5194, more significantly below 5177 would signal a deeper pullback and a potential retest of the 5131-36 breakout zone. Monitor bounces/failed breakdowns at these levels for potential short entries.
News: Top Stories for May 9th, 2024
Global Stock Market Trends:
Varied Performance: Mixed responses observed in Asian markets; Wall Street experiences second consecutive day of lull.
Influence of Geopolitical Events: Ongoing geopolitical tensions impact investor confidence and market stability.
Recovery Post-COVID-19: Economic recovery contributes to increased positive correlation among global stock markets.
Technological Advancements and Stock Market Analysis:
Complex Network Analysis: Studies highlight increased interconnectedness among global stock markets.
Geopolitical Impact: Geopolitical unrest continues to pose risks, affecting capital flows and commodity markets.
Future Outlook: Predicted trends focus on sustained recovery and nuanced understanding of market interdependencies.
Overview of International Trade and Currency Fluctuations:
Currency Fluctuation Dynamics: Currency values influence international trade competitiveness and economic policies.
Role of Economic Indicators: Inflation rates, interest rates, and GDP growth significantly affect currency valuation.
Risk Management Strategies: Businesses employ hedging strategies to mitigate currency fluctuation risks.
Government Policies: Monetary and fiscal policies play crucial roles in stabilizing currency values.
Impact of Central Banks' Policies on Global Economy:
Economic Stabilization: Central banks manipulate monetary policies to address economic fluctuations and crises.
Influence on Inflation and Interest Rates: Adjustments in interest rates affect global economic conditions.
Effects on Financial Markets: Central bank policies directly impact asset prices and investment flows.
Response to Economic Shocks: Central banks provide monetary lifelines during economic crises to stabilize financial systems.
SHORTING EURJPY with tight SLshort below 168.309
SL 168.315
TP 166.995 (flexible)
Warning:
1. trading derivative could result to loss of your capital, kindly apply caution and use only the money you can afford to lose.
2. Previous performance is not a guarantee that my signals will profit you. Accept and implement this idea at your own risk.
3. You are advised to apply proper risk management while trading derivatives...!!!
BR,
Kings
Learn how to trade. See my signature below or visit my profile for more details
GOLD - where is today top ? CPI day, whats next??#GOLD.... what a funtastic move as per our today video analysis, and we mentioned that there is 2 areas upside, first one is 2374 and 2nd is 2379
keep close both areas and if market hold that region then drop expected from here,
and downside areas are mentioned on chart.
good luck
trade wisely
Trading Plan for Wednesday, May 15th, 2024Trading Plan for Wednesday, May 15th, 2024
Market Sentiment: Bullish, but extremely overbought after 9 consecutive green days. Expect high volatility and the potential for a substantial rug pull triggered by the CPI data release.
Key Supports
Immediate Supports: 5257 (major), 5215-17 (major), 5208 (major)
Major Supports: 5162 (major), 5133-36 (major), 5096-5100 (major)
Key Resistances
Near-term Resistance: 5272 (major), 5302 (major), 5329-32 (major)
Major Resistances: 5362-64 (major), 5398-5402 (major)
Trading Strategy
Expect Volatility: Prioritize capital preservation during the CPI release and limit your trading activity.
Long Opportunities: Look for failed breakdowns at 5257 (if not already broken) or 5215-17 as potential long entry points after a CPI sell-off. Consider the 5162 and 5133-36 zones for deeper longs, but only on quick recoveries and failed breakdowns.
Short Opportunities: Due to the bullish trend and the unpredictable nature of CPI day, avoid shorting unless the market reacts very negatively to the data. Monitor potential back-tests of 5302 or 5329-32, but proceed with extreme caution.
Level-to-Level Focus: The breakout from the downtrend channel has created a volatile environment. Trade the provided support and resistance levels rigorously and take profits aggressively.
Bull Case
Holding Support: If 5217-20 holds after the CPI dip, there's potential for continued consolidation within the 5236-5261 range, setting up for a later breakout towards 5285, 5294, and 5302+.
Ultra Bull Case (Unlikely): ES would need to hold above 5257 (extremely unlikely) to continue upwards with minimal correction.
Bear Case
Breakdown Signals: A convincing break below 5217-20, especially if the CPI news is negative, triggers a larger dip. Monitor failed breakdowns at 5162 and 5133-36 for potential long entries.
News: Top Stories for May 15th, 2024
📉 U.S. April CPI Report Released: The U.S. Bureau of Labor Statistics announced April's Consumer Price Index (CPI) figures, indicating a slight moderation in inflation with headline inflation at 3.4% and core inflation (excluding food and energy) at 3.6%. This data is crucial for understanding the Federal Reserve's future interest rate decisions (U.S. Bureau of Labor Statistics).
📊 Impact on Federal Reserve Policy: The CPI data implies a cautious approach from the Federal Reserve regarding interest rate adjustments. Despite a slight decrease in inflation, the rate remains above the Fed's 2% target, leading to market uncertainty about potential rate cuts (Federal Reserve).
🛢️ Sector-Specific Inflation: Significant contributors to the CPI increase included gasoline and shelter costs, which together accounted for over 70% of the monthly rise. Gasoline prices increased by 2.8% in April due to seasonal factors and changes in refinery practices (USA Today).
📈 Global Inflation Trends: The International Monetary Fund projects a global inflation rate decline to 5.8% for 2024, down from 6.8% in 2023. This trend is attributed to tighter monetary policies and a drop in energy prices, though regional variations persist, with hyperinflation in Venezuela and lower rates in developed economies (IMF).
🌐 Market and Trade Impact: High inflation rates can increase export prices, making goods less competitive globally, while countries with lower inflation may see more stable consumer prices and better trade balances. Geopolitical tensions and supply chain disruptions continue to influence these dynamics (UNCTAD).
Trade Smart with TradingView’s Volume FootprintTradingView has just introduced an innovative feature on their charts known as the Volume Footprint . This tool represents a significant advancement in chart analysis, offering a detailed view of trading activity and volume at specific price levels. Are you interested in gaining an early advantage by becoming one of the initial traders to master this new tool ?
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Prepared by : Arman Shaban
The Source : www.tradingview.com
NIFTY50 - here we go for short- whats next??NIFTY 50 - well guys market sustained upside and consolidate in between his resistance areas,
now we have 2 clues for short one in RSI and 2nd on chart technicals,
keep close and if market hold current price 22307 then a sharp decline expected from here,
keep close 22307 that will be your key level,
on ly selling invalidate above 22307 in 4 hours and day chart.
dont be lazy here.
good luck
trade wisely
Here's what Wall Street economists expects this week.Federal Reserve Chair Jerome Powell emphasized the need for continued patience in monitoring inflation trends during his remarks at the Foreign Bankers’ Association's annual meeting in Amsterdam on Tuesday. Powell highlighted that while there was some easing of inflation in the U.S. last year, the first quarter showed unexpectedly high inflation rates, which were not anticipated. Despite these challenges, he maintains a cautious optimism that inflation will gradually return to the Fed's target of 2% over the year, though he admitted his confidence has diminished somewhat following the recent data.
Powell concluded by stating that the central bank will closely observe incoming inflation data to determine its future monetary policy actions.
This week will see an increase in activity with the upcoming release of the U.S. April consumer price index on Wednesday, which is closely watched by economists focusing on potential changes in Federal Reserve policies, particularly the possibility of interest rate cuts before the end of the year.
Recent data has shown a disruption in the declining inflation trend from the first quarter, sparking concerns about persistently higher inflation rates and reduced likelihood of monetary easing, according to Sam Bullard, a senior economist at Wells Fargo. In response to these concerns, Fed Chair Jerome Powell has indicated two scenarios that could lead to rate cuts: a reassurance of low inflation rates or a sudden downturn in the labor market.
Key events this week include:
Consumer Price Index (CPI) for April: Scheduled for release at 8:30 a.m. Eastern on Wednesday. Economists anticipate that the headline CPI inflation will increase by 0.4% for the third consecutive month, with the year-over-year rate possibly moderating to 3.4%, slightly down from 3.5% the previous month. The core CPI, which excludes volatile items like food and energy, might rise by 0.3%, marking the lowest rate since December, with an annual pace expected to decline to 3.6%, a three-year low.
Retail Sales for April: Also set for Wednesday at 8:30 a.m. Eastern, where retail sales are expected to show a modest increase of 0.5%, following a strong 0.7% rise in March. Sales excluding autos might increase by just 0.2%, compared to a 1.1% increase the previous month. Adjustments to March's figures could be made, potentially affecting the April growth figures.
Weekly Jobless Claims: On Thursday at 8:30 a.m. Eastern, jobless claims are anticipated to decrease by 12,000, offsetting more than half of the previous week's unexpected rise to 231,000, influenced by seasonal employment shifts in New York.
Overall, while inflation has shown signs of heating up unexpectedly in the first quarter, economists still forecast a downward trend for the year. The Philadelphia Fed's latest survey suggests that by the fourth quarter, headline inflation could slow to 2.5% annually, with core inflation at 2.7%.
Trading Plan for Tuesday, May 14th, 2024Trading Plan for Tuesday, May 14th, 2024
Market Sentiment: Bullish, but cautious given the 8 consecutive green days. The risk of a sudden pullback increases as the market becomes more overbought.
Key Supports
Immediate Supports: 5235 (major), 5221-17 (major), 5210 (major)
Major Supports: 5192 (major), 5174-76 (major), 5144-47 (major)
Key Resistances
Near-term Resistance: 5246 (major), 5262 (major), 5272 (major)
Major Resistances: 5302 (major), 5327-29 (major), 5400-05 (major)
Trading Strategy
Chop Zone Management: The 5235-5262 zone is a chop area, making it difficult to trade with high conviction. Avoid overtrading and focus on level-to-level scalping for small gains.
Long Opportunities: Look for failed breakdowns at 5235 or 5210 for long entries. Prioritize reactions at these levels, ideally with quick recoveries. In the event of a deeper dip, consider knife-catches at 5192, 5174-76.
Short Opportunities: As always, avoid shorting green candles and breaking trends. For those inclined to counter-trend shorting, consider 5272 or 5302 as potential levels, but proceed with extreme caution.
Bull Case
Uptrend Continuation: As long as 5235 holds (or any breakdown is quickly recovered), the bullish trend remains intact. Focus on a potential base building within the 5235-5262 range, followed by an upside breakout targeting 5272, 5290, and ultimately 5302.
Ultra Bull Case: No dip below 5235, with continued basing above it. Reclaiming 5245 could be a signal to add exposure, but only with acceptance and no break above 5262.
Bear Case
Breakdown Signals: A convincing break below 5235 would trigger a potential correction. Monitor bounces/failed breakdowns at 5231, 5221-17, and 5210 for short entry opportunities, but prioritize a more significant level like 5192 for confirmation and to avoid traps.
News: Top Stories for May 14th, 2024
China's Strategic Bond Sale: China initiates a substantial bond sale, aiming for $140 billion to combat its property crisis and stimulate economic growth through infrastructure projects.
Russia's Economic Resilience: Despite Western sanctions, Russia's economy shows unexpected strength, with GDP projected to outpace the U.S. This resilience is attributed to increased non-oil revenues and strategic fiscal management.
Indonesia's Nickel Boom: Western car manufacturers are flocking to Indonesia for its nickel resources, crucial for electric vehicle batteries, highlighting Indonesia's growing importance in the global EV supply chain.
Meme Stock Mania Returns: The meme stock phenomenon resurges, with GameStop and AMC Entertainment experiencing significant price volatility following social media activity by influential traders.
Global Economic Concerns: Leaders from Serbia, North Macedonia, and Georgia express apprehensions about the requirements for joining international economic communities, potentially impacting regional economic policies.
China's Bond Sale and Global Implications: China's upcoming bond sale aims to bolster its economy and could influence global interest rates, foreign exchange markets, and international bond market dynamics.
Meme Stock Resurgence and Market Volatility: The return of "Roaring Kitty" to social media sparks a renewed frenzy in meme stocks, leading to dramatic price swings in GameStop, AMC, and BlackBerry.
US500 - high placed for now?? whats next??#US500.. S&P - market very well holing his supporting areas and grinding higher highs.
now market still consolidate from last couple of sessions,
keep close it guys because if market hold his current resistance area that is 5235 around
then drop expected from here,
keep close it and don't be lazy here..
[INJUSDT] - this is why must get bullish!in 3D chart INJ still comsolidate a a massive ascending channel
price now retesting the lower side of the pattern which gathering with a 0.618 fib level which making it the most important support! ... that making price must rebounding from here!
- u can see the H&S pattern and clearly u can see that the pattern completed and declined to reach exact it's target
most time when pattern completed and reach it's target it reverse it's direction
so we expect volatility between 0.618 and 0.786 fib level in next days then get bullish.
appreciating for supporting us with ur "like " and follow for more ideas, updates🎯
#GOLD - it's breakout ? Then be ready.#GOLD... according to our today video analysis market just placed his today resistance area around 2343 to 45
And in day chart yesterday closing is sign of short gold..
Well keep close this area and if market hold it then a drop expected from here. Keep close it.
Good luck
Trade wisely
Trading Plan for Monday, May 13th, 2024Trading Plan for Monday, May 13th, 2024
Market Sentiment: Bullish, but extremely overbought and due for a pullback. Traders are advised to exercise extreme caution and prioritize protecting gains over chasing further upside.
Key Supports
Immediate Supports: 5236 (major), 5225, 5213 (major)
Major Supports: 5202-04 (major), 5186 (major), 5155 (major), 5112-15 (major)
Key Resistances
Near-term Resistance: 5246 (major), 5261 (major), 5272 (major), 5303 (major)
Major Resistances: 5329 (major), 5354 (major), 5398-5400 (major)
Trading Strategy
Pullback Anticipation: Expect a pullback after 7 consecutive green days. Be prepared for a sudden reversal and adjust your strategy accordingly.
Long Opportunities: Prioritize failed breakdowns at 5236, then 5213 for long entries. Look for bounces and reclaims, especially if price dips below 5209. Consider deeper longs at major supports (5186, 5155) only if the market shows substantial weakness.
Short Opportunities: While avoiding shorting green candles and breaking trends is advised, monitor back-tests of 5272 and 5303 for potential short entries. Proceed with extreme caution and be prepared for sharp reversals.
Consolidation Zone: Focus on the 5236-5261 range as a potential consolidation zone. Monitor the price action closely within this range for clues about the next directional move.
Bull Case
Holding Support: If 5236 holds, continued consolidation within the 5236-5261 range is likely. This would suggest a pause before a potential breakout toward 5272, 5285-88, and ultimately 5303.
Ultra Bull Case (Unlikely): ES would need to hold above 5236 and continue building a base overnight for the most bullish scenario. This could trigger a move higher without a significant dip.
Bear Case
Breakdown Signals: A convincing break below 5236 triggers a dip, targeting 5213 initially, with potential to extend to the 5186-5115 zone. Monitor bounces/failed breakdowns at these levels for potential short entries.
News: Top Stories for May 13th, 2024
1. Corporate Earnings Surge
Details: A notable rise in Q1 2024 earnings has been reported among S&P 500 companies, with a majority exceeding analysts' expectations.
Impact: This upsurge signals a strong corporate sector potentially boosting market confidence and influencing stock prices.
2. Central Bank Stances on Interest Rates
Context: With persistent inflation, central banks, including the Federal Reserve, are cautiously maintaining current interest rates.
Implications: This strategy aims to control inflation without disrupting economic stability, reflecting a delicate balance in monetary policy.
3. IMF's Global Growth Forecast
Forecast: The IMF projects a global growth rate of 3% for 2024, with potential long-term economic challenges.
Significance: This modest growth underscores global economic sluggishness, necessitating strategic economic measures.
4. Geopolitical Tensions and Economic Impact
Developments: Tensions in the Middle East are intensifying, affecting global markets and commodity prices.
Consequences: These geopolitical issues are critical for financial stability, influencing both market volatility and investor sentiment.
5. Key Economic Indicators Release
Upcoming Data: Major economic indicators like consumer price indexes and retail sales are scheduled for release this week.
Relevance: These indicators are crucial for assessing the economic health of major economies and will influence forthcoming monetary policy decisions.
GOLD... It's breakout? What's next?#GOLD... market very well hold your area in first go and placed 2350 around high.
But now market just break your area and trade below from last couple of hours.
What's next??
Guys according to us if market trade below 2343 tp 2346 area means you can see another drop towards next supporting area.
Lets see what will be done from market...
That's why I told you that below 2342 CUTT N REVERSE keep in hand.
Good luck
Trade wisely
GOLD - where is next support? What's next??#GOLD..perfect move as per our video analysis..
And now market just near to his swing region.
That is 2343 around
Keep close it guys it's your area area for further move to anyside at least 15 points..
(BUT ONE THING IS KEEP IN MINE THAT 2342 BELOW CUTT N REVERSE VALID)
Don't be lazy here and keep close .
Good luck
Trade wisely
GOLD - where is next support? What's next??#GOLD..perfect move as per our video analysis..
And now market just near to his swing region.
That is 2343 around
Keep close it guys it's your area area for further move to anyside at least 15 points..
(BUT ONE THING IS KEEP IN MINE THAT 2342 BELOW CUTT N REVERSE VALID)
Don't be lazy here and keep close .
Good luck
Trade wisely
#ARBUSDT.P #Analysis & #LongSetup #Eddy#ARBUSDT.P #Analysis & #LongSetup #Eddy
For example, in an altcoin"Arbitrum", I have provided you with proper analysis & long setup so that you are aware of the general movements of the market and other altcoins & don't rush to buy, the structure is not complete.
((This analysis was based on the liquidity structure and its combination with other styles, including : PA,RTM,ICT,VT,Lvl2+3,DOW,Wyckoff,...))
>> The possibility of growth and explosion of altcoins is very high & they can see much higher targets.
Be sure to visit Bitcoin analysis update :
#BTC #Bitcoin #Update #Setup 13 #Eddy#BTC #Bitcoin #Update #Setup 13 #Eddy
Everything is going according to plan, are you enjoying the setups?
((I felt it necessary to give an update so that friends who want to know the right place to buy and know about the next movements of Bitcoin and not panic.))
Related Analysis & Setups of Bitcoin : (( BTC/USD )) : Check Link :
Trading Plan for Friday, May 10th, 2024Trading Plan for Friday, May 10th, 2024
Market Sentiment: Bullish, but with a cautious undertone after a significant multi-day rally. Expect potential profit-taking and a reduction in aggressive buying activity. A period of consolidation is highly likely.
Key Supports
Immediate Supports: 5235-37, 5228, 5209 (major), 5203 (major)
Major Supports: 5177-79 (major), 5155 (major), 5120 (major)
Key Resistances
Near-term Resistance: 5246 (major), 5268-72 (major)
Major Resistances: 5302 (major), 5326-28 (major), 5395 (major)
Trading Strategy
Capital Preservation Focus: After a strong multi-day rally, prioritize protecting your gains. Adopt a defensive posture and consider reducing position sizes.
Limited Long Opportunities: Due to the overbought conditions and the potential for a pullback, look for very selective long entries if at all. Focus on failed breakdowns at 5228 or 5203 for potential long entries. In the event of a deeper pullback, consider buying dips at major support levels, with 5209 or failed breakdowns at 5203 offering potential opportunities.
Short Opportunities: While your personal trading rules discourage shorting green candles and breaking trends, monitor back-tests of 5246 and 5268-72 for potential short entries with tight stop losses. Proceed with extreme caution.
Focus on Levels and Patience: Trade the provided support and resistance levels with strict discipline. Let price action develop, be patient, avoid emotional trading, and prioritize minimizing risk exposure.
Bull Case
Holding Support: Defending the 5203-5209 zone remains crucial for sustaining bullish momentum. Holding above this level would indicate a continuation of the breakout, targeting 5246, then 5268-72.
Ultra Bullish Scenario (Unlikely): A parabolic move overnight pushing through 5246 would be required for a continuation without a proper dip. Monitor overnight basing above 5228 and below 5246 for clues about strength.
Bear Case
Breakdown Signals: A convincing break below 5203 would signal a potential pullback and retest of lower supports. Monitor bounces/failed breakdowns at 5228 or 5203 for potential short entries.
News: Top Stories for May 10th, 2024
Global Stock Market Trends:
U.S. Market Performance: Modest gains seen in U.S. stock indices, reflecting optimism despite mixed April performance.
European and Asian Market Dynamics: Positive movements noted in European and Asian markets, driven by solid economic data and central bank easing.
Impact of Economic Indicators: U.S. labor market easing influences market expectations regarding potential rate cuts.
Sector-Specific Movements: Technology sector experiences volatility, while energy sector sees potential stabilization.
Investor Sentiment and Future Outlook: Cautious optimism prevails amid anticipation of rate cuts and easing inflation, alongside geopolitical risks and trade negotiations.
Assessment of Inflation and Interest Rate Policies:
Global Inflation Trends: Persistent inflationary pressures challenge central banks' efforts to meet targets.
Central Banks' Stance: Cautious approach towards interest rate adjustments observed globally.
Economic Implications: High interest rates may slow down consumer spending and business investments.
Inflation Expectations and Future Policies: Central banks closely monitor inflation expectations to inform future policy decisions.
Impact on Global Economic Stability:
Corporate Financial Developments and Deals: Companies announce financial results and engage in strategic transactions, reflecting market dynamics and regulatory changes.
Forward-Looking Corporate Statements: Companies adjust strategies to navigate current market conditions and regulatory environments effectively.
GOLD - where is immediate supporting area? what's next?#GOLD - a perfect move as per our video analysis, and now market immediate supporting area is 2372
keep close it guys because if market hold it then again upside further move expected from here,
keep clsoe it 2372
but keep in mind guys that below 2372 on confirmation CUTT N REVERSE scnerios also valid.
keep close it 2372
good luck
trade wisely
GOLD - now where is supporting area? whats next ??#GOLD.. market very well placed targeted area as we discussed in our video analysis, first of all congratulations to all.
now market have 2343 as immediate supproting area , keep close it guys,
because if market hold it then upside further move expected,
dont be lazy here,
good luck
trade wisely