1. Price ended its three-wave correction as price approached the three-month low near 1699.09 where wave A ended, indicating a possible bounce could occur as the correction has come to an end. 2. A double bottom formation is building up with price testing the neckline at 2291.16. A breakout to the upside would attract more buyers and push price higher. 3....
1. A good confluence of support could be found between 1.1610-1.1700 where horizontal swing low, wave C target, 38.2% Fibonacci retracement line up. With a solid support zone, price is now trying to break above the 20-day moving average. Should price close above the 20-day moving average, buyers might come in and push price towards 1.1960. 2. Trendline connects...
Technically, on the H4 chart, gold finished its corrective wave 4 and is in the formation of an impulsive Wave 5, indicating further weakness. Wave 4 hit 50% of wave 3 nicely and reversed towards the confluence of support between 1783.76-1795.00, where 61.8% Fibonacci retracement and 100% Fibonacci extension as well as demand zone line up. Price could have a...
1. Intermediate support could be found at 149.00 where AB=CD pattern, horizontal swing low as well as round number threshold are. 2. Should price fall below the above-mentioned support zone, 146.85-147.60 could be a confluence of support where trendline support, horizontal pullback support as well as 38.2% Fibonacci retracement of Wave 3 line up. 3. Stochastics...
Technically, we could see GBPUSD in the process of forming Wave 5, indicating a possible reversal. Wave 5 could travel 61.8% of the net length of wave 1 and 3 together, which is normally used as a target for sellers. On a weekly basis, if price could continue the decline and close below 1.3670 where the horizontal swing low support and round number threshold are,...
Intraday trade: xiaomi squeezed in triangular movements! There's limited upside for xiaomi towards the upper band of the triangular area where the 38% fib retracement is. A breakout of this triangle could determine the next move up or down.
HSI could retap the 61.8% fib support and bounce !
WUXI Biologics dropped by 5%, forming a bullish M pattern! Good time to add since nothing changed in fundamentals and this is a selloff by the Capital Group probably due to profit taking.
Xiaomi could revisit the trendline before further bounce !
Price broke below the trendline, could be a fakeout! Fundamentals are still strong for equity market, not worrying about crash, but think it could be a good pullback to add some positions here !
Keppel see more downside from a bearish chart pattern!
BABA is about to break above the upside confirmation, and more upside could be seen from there!
SIA broke above 38%, more upside towards the 61.8% fib retracement !
XIAOMI broke above the descending trendline, more upside! It might retap the trendline before further bouncing ! Our pivot happens to be where the 50% fib retracement and the EMA (34) support are !
HSBC might see trendline breakout, more upside ! Strong signals to buy if price could break this trendline, a higher high could be expected from here!
A clear breakout from descending trendline confirms the upside ! More upside but try to get a good entry point!