Nifty is back on an Important Resistance, Possible Sell OffNifty has formed an ascending channel with a strong upward impulsive wave, nearing the resistance level. The identified resistance zone has shown significant selling pressure in the past, suggesting a high probability of similar price action. A bearish momentum and breakout from the channel are expected, leading to a potential retracement to the downside.
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Crude Oil with a Strong Support Creating a Triple Bottoms Crude oil has consistently respected the strong support level around $67, leading to multiple bullish reversals. The presence of a triple bottom structure further reinforces the potential for an upward continuation. It is important to wait for the price to confirm a bullish breakout on the key level, as this would indicate a clear shift in the market structure.
Render may Retest the Key Level Formed Before the Lift-OffRNDR is likely to retest a key level established prior to the lift-off. The upper boundary of the channel formed needs to be respected for the price to find a robust support before any potential rally.
Gold is on Pull back after the Bullish Breakout formed. Gold experienced a pullback following a recent bullish breakout that occurred amidst a bearish trend. If the price finds support once more at the highlighted hourly support level, we could witness a bullish reversal and a potential upward movement. However, if gold fails to hold above the support and undergoes a bearish breakout, we can expect a further decline in price.
S&P500 Visits an Important Weekly Resistance at $4300S&P 500 has experienced a breakout and subsequent pullback on a key level in the daily timeframe, leading to an important weekly resistance. We observed a significant sell-off pressure in the past, and it is crucial to closely monitor the price reaction within this highlighted zone to determine future possibilities.
Ripple on Daily Resistance, Bullish or Bearish?Ripple has reached a significant daily resistance level, which holds great importance in determining the next direction for XRP. If the price successfully breaks above this resistance, we can expect a continuation of the bullish trend with a potential extension.
Bitcoin Respects the Support formed on Daily TimeframeBitcoin has made a bullish recovery, experiencing a recent pullback after breaching the highlighted support with a fake out. The previous daily closing displayed a strong bullish sentiment, leading us to anticipate the price reaching recent highs near $28,470.