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S&P 500 Analysis: Bullish Momentum and Key Levels S&P 500 Technical Analysis The S&P 500 reached another All-Time High (ATH) in December, signaling a continuation of its bullish trend and the potential for further historical gains. Currently, the price is consolidating within the range of 6068 and 6022, awaiting a breakout. Overall, the bullish trend remains strong, with the next key target at 6143. However, a break below 6022 could signal a correction, with the price potentially dropping toward 5971. Key Levels: Pivot Point: 6068 Resistance Levels: 6100, 6143, 6185 Support Levels: 6022, 5971, 5932 Trend Outlook The overall trend remains bullish, supported by strong momentum and the recent achievement of new highs.
OANDA:SPX500USDLong
by SroshMayi
The BankNIFTY Index Futures chart - Fibonacci Trading StrategyThe BankNIFTY Index Futures chart presents a fascinating case for Fibonacci retracement analysis. After a significant downtrend from the peak at 55,000, the index has shown a series of bounces and pullbacks, which are classic signals for Fibonacci traders. Key Observations: Downtrend Confirmation: The initial peak around 55,000 was followed by a sharp decline, confirming a bearish trend. This sets our high point for Fibonacci levels. Fibonacci Levels: From the high at 55,000 to the low at 50,130, key Fibonacci retracement levels are established: 23.6% at 51,288 38.2% at 52,003 50% at 52,582 61.8% at 53,160 78.6% at 53,984 Support and Resistance: The chart shows multiple touches around the 50% (52,700) and 61.8% (53,160) levels, indicating strong support/resistance zones. The recent price action around these levels suggests potential reversal or continuation signals. Trading Strategy: Long Position: Consider entering a long position if the price finds support at the 50% or 61.8% Fibonacci levels, especially with confirmation from other indicators like RSI or MACD. Stop loss can be set below the 78.6% level or recent swing lows. Short Position: If the price breaks below the 50% level with volume, it might target the 61.8% or even the 78.6% Fibonacci level for further downside. Confirmation from bearish candlestick patterns or momentum indicators would strengthen this trade. Breakout Strategy: Watch for a breakout above the 61.8% or 78.6% levels. A confirmed breakout could lead to a new uptrend, with targets potentially aiming for the previous high or higher Fibonacci extensions. Volume Analysis: Notice the spike in volume around the recent lows and subsequent recovery. This could indicate strong buying interest at lower levels, suggesting a potential bullish reversal or at least a strong support zone. Risk Management: Always use stop losses to manage risk, especially in volatile markets like BankNIFTY. Adjust your position size according to your risk tolerance and the volatility of the instrument. This Fibonacci-based approach provides a structured way to navigate the market's waves, leveraging historical price action for future predictions.
NSE:BANKNIFTYZ2024Long
by stocktechbot
Gold is trading sideways and waiting for the small non-farm data Gold prices closed below 2640 on Tuesday after strong US jobs data suggested the Fed was cautious about rate cuts, while a weaker dollar and lower US Treasury yields limited losses as the market awaited further economic clues. A strong jobs report could lead the Fed to take a cautious stance on rate cuts. Investors' attention will turn to Wednesday's ADP jobs report and a speech by Fed Chairman Jerome Powell before Friday's jobs report. Risk data warning! US November ADP employment change data will be released. This data is known as the "small non-agricultural" and is expected to trigger a big market trend. The US November ISM non-manufacturing purchasing managers' index (PMI) will be released, expected to be 55.5. St. Louis Fed President Moussalem will give a speech and the Fed will release the Beige Book on economic conditions. Fed Chairman Powell will be invited to be interviewed at the DealBook/Summit conference hosted by the New York Times. Gold trend analysis and interpretation! As for gold, although the sharp drop on Monday bottomed out and rebounded, in the short term, we believe that it will run around Monday's time, but the sign of strength is to immediately recover the lost ground. In the past two days, it has been slowly retreating, especially yesterday's market, which finally broke through the high point of 2655 and directly dived from the high platform. The US market continued to fall, so this pattern is extremely weak. For today, it is necessary to continue to be bearish and downward. Compared with the current price, it is not necessary to go short directly. Similarly, it is not necessary to go long. In this tangled position market, it is necessary to use the European market, that is, the intraday strength and weakness to layout today's trend. Because this trend is volatile, special attention should be paid to the intraday suppression and sideways trading. Like yesterday, pay attention to the resistance of 2655 and choose the opportunity to open a short position. Gold point: rebound 2652-55 short, defense 62, target 2630-20 line!
TVC:GOLDShort
by Yuliya1l11
A Brief 57-Year History of the DollarThe year 1971, when the Bretton Woods system ended, marked a period where the dollar's value followed a volatile trajectory of ups and downs—until 2008. The global financial crisis was another turning point, and since then, the dollar has been steadily appreciating. This trend is expected to continue, at least until another significant pivot point emerges. Will such a critical turning point occur during Trump’s second term? That remains to be seen. However, one thing is clear: the dollar seems poised to keep gaining value.
INDEX:DXYLong
by The_Quantastic
1
POWERGRID MAY FALL DUE TO DOUBLE TOP FORMATION DOUBLE TOP FORMATION : powergrid has formed a perfect double top pattern on weekly timeframe and seemed to be positioned for further fall. Although it had shooted up suddenly 2 weeks back due to the uncertainty which bubbled up surrounding maharashtra election which affected whole whole stock market. But after the release of the election results it has started going down again BEARISH DIVERGENCE : Apartfrom double top it has also formed strong bearish divergence pattern on the chart with 2 divergent peaks having formed on chart & rsi 4th mar & 29th july respectively indicating strong bearish momentum for powergrid BEARISH MACD : macd indicator has also become extremely bearish with macd line hovering below signal line by large margin PROFIT TARGET : The stock will fall till 299 level which is 22 points away from current level
NSE:POWERGRIDShort
by peace_lover
Is Solana Gearing Up for Another Rally?Since early October 2023, Solana has experienced an impressive 1,000% growth, reaching its peak on March 18, 2024. Following this significant rally, the price entered a corrective rectangle pattern, retracing 50% of the previous wave and preparing for the next upward move. After breaking out of the corrective pattern and achieving notable growth, Solana has now formed a zigzag corrective pattern. The price retraced from the 38.2% Fibonacci level, which aligns with the March 18, 2024 peak. Additionally, the price has shown a positive reaction to the midline of the ascending channel. Given this structure, it is expected that Solana will continue its upward trend and touch the upper boundary of the ascending channel. If you found this (SOL) analysis helpful, let us know by hitting the like button! 💙 Where do you think Solana is headed next? 🚀 Drop your predictions and insights in the comments section below! 👇
Long
by Market-Analyzer
BIGTIME is trading above the visible range of the VPVRIf the price moves above the visible range of the VPVR (Volume Profile Visible Range), it indicates a significant bullish momentum and potential breakout. The price has entered a low volume node (LVN) area There's a possibility of continued upward movement due to lack of historical resistance in this new price range. Anticipate either a strong continuation of the uptrend or a potential pullback to retest previous resistance levels, which may now act as support. If BIGTIME is indeed support resistance flipping, we could see 30%, 80%, 300% upside. Daily candle hasn't closed above the visible range yet. If this is a fake-out, could consolidate back in the visible range and even revisit the bottom of the pattern.
COINBASE:BIGTIMEUSDLong
by NotQualifiedToGiveFinAdv
1
BTC Battling Key Range with Support at $95.5KBitcoin is currently trading at $95.8k, caught between two significant price levels: $94.5K and $98.8K. The price has bounced off support at $94.5K and is now navigating around the Fibonacci 0.618 golden ratio level at $95.5K, which is acting as support. The Advanced VWAP (Volume-Weighted Average Price) indicator is highlighting the critical range between $94.5K and $98.8K, showing where market participants are most active and where price may likely face resistance or support. Bitcoin's hourly chart also recently showed a "death cross" about 31 hours ago, which could signal bearish pressure, but the bounce at $94.5K is providing some support. Risk Considerations: Potential Risks: A failure to hold the $94.5K support could signal a deeper correction, potentially down to lower levels. If the price breaks below the $94.5K support the next level could be $91.5k Volatility: With low volume and the recent death cross, Bitcoin could be subject to sudden price swings. Keep an eye on volume and momentum to gauge strength for either a bullish or bearish continuation.
COINBASE:BTCUSD
by CryptoMitchX
AUDUSD InsightHello, Subscribers! It's great to see you all. Please feel free to share your personal opinions in the comments. Don’t forget to like and subscribe! Key Points - Safe-haven sentiment strengthens due to South Korea's declaration of martial law, driving the yen higher and exerting downward pressure on the dollar. - According to the U.S. Department of Labor's JOLTS report, October job openings (seasonally adjusted) stood at 7.744 million, surpassing market expectations. Some analysts forecast a Federal Reserve rate cut in December, citing the robust labor market. - Australia’s October retail sales increased by 0.6% month-on-month. This rise is attributed to confidence that the Reserve Bank of Australia (RBA) will not raise rates further. Analysts predict the RBA will begin cutting rates in May next year. Major Economic Indicators - December 3: U.S. Department of Labor’s JOLTS report - December 5: Fed Chair Powell’s speech - December 6: U.S. November unemployment rate and nonfarm payroll data AUD/USD Chart Analysis Currently, AUD/USD is consolidating around the support level at 0.64000. Future price direction is expected to hinge on this level. - If the support holds, there’s a strong likelihood of an uptrend, with potential gains up to the 0.69000 level. - Conversely, a break below 0.64000 could lead to a decline toward the 0.62000 level. Should unexpected movements occur, we will swiftly establish new strategies to adapt.
Long
by shawntime_academy
#020 DCA USDJPY ShortPrice now at downward trendline and I am selling as I expect the higher Time Frame to continue buying JPY. JPY remains as the lowest interest rate currency among the major currencies so people might be readjusting their portfolio and continuing to borrow JPY and investing that money else where. Am I correct? I'm not sure. I'm just speaking my thoughts and I could be very far off from the truth. Anyway, money makes the world go round. Just like petrol gives the motorbike engine fuel to burn and rotate. And the starter gives the fuel a reason to ignite. I chose the SGD instead of GBP or other major currency so I could give myself some wiggle room for when other major pairs has some movement, I could take those pairs as well s8nce I feel that SGD is quite exotic and the economy is propped up by other countries mercy. 0836SGT 04122024
Short
by ProfessionalDuckHunter