PLS NOTE : All chart analysis posted below are the author’s own idea of trading for educational purpose only & not any form of advice or recommendations or opinion to anyone]
NIFTY has broken up its lifetime high of 11171 and exploded bullish and closed tight above 11171 area as seen in the above price chart of NIFTY
Without speculating we will follow the price action which we can see clearly in the price chart above.
Any downward pullback would be an buying opportunity till the price lies above 10900 area
Clear price action buying signals should be observed on any downward pullback on daily time frame at flip support levels of 11170 area or another strong flip support level at 10925 area.
Stay connected for further updates on NIFTY.
We have mentioned in our earlier post that key resistance for EURUSD is seen at 1.1853 area .
We were eagerly waiting for the upward pullback till 1.1853 area to grab selling opportunity.
Suddenly price reversed before approaching 1.1853 area creating an bearish engulfing signal.
Price action Selling signals has to be observed on 4 H or Daily time frame till 1.1853 area to get in line with downtrend.
Previously we mentioned the key affected zone for GBPUSD lies at around 1.3474 area as seen in the price chart above.
Price got reverse before touching 1.37474 area forming a bearish engulfing signal.
Selling signals has to be observed on 4 H or Daily time frame till 1.3474 around area to come down with the down trend.
We got two tailed pin bars at strong flip support area near 110.90
Also next nearest support lies at around 109.35 area.
Clear price action buy signals has to be observed at flip support zone at around 110.90 area.
We stay bullish till price lies above 109.35 area for USDJPY
We did not found any healthy upward pullback last week.
We should expect a healthy pullback till its flip resistance zone at around 1262 area to find selling opportunity.
We stay bearish for GOLD till the price lies below 1302 area
Any upside rotations till 1302 area will be an opportunity to short sell after getting a price action sell signal on daily time frame.
15800 to 16140 zone would be a good location to find for clear price action selling signals as we have posted in earlier post for SILVER.
We can wait for a healthy pullback or correction and watch selling signals on daily time frame in between the flip resistance zone at around 15800 to 16140 area.
CRUDE OIL :
Buying zone for CRUDE OIL is clearly seen in between 67 to 63.66 $ area as seen in the price chart above.
Ideally we will wait and observe price action buy signals for CRUDE OIL in between the zone 67 to 63.66 $ area on 4 H or Daily time frame.
NATURAL GAS :
Following is the weekly chart of NATURAL GAS.
It is clearly observed that price is in side way structure making equal highs and equal lows as seen in the above weekly price chart.
We will plan to observe buying signals at equal low location at around 2.531 area as per the weekly side way structure.
Or else we can find selling signals at around 2.837 area on daily time frame which is a flip resistance to get down till 2.531 area
Stay connected we will post next updates for Natural Gas.
We were so eager to see a upward pullback till the flip resistance area of 2246 area last week.
But last week we found consolidation with stuck movement of price.
Generally we trade healthy pullbacks.
Ideally we can wait till healthy upward pullback at around 2246 and watch selling signals on daily time frame to get line with the downtrend.
Or in such a aggressive downtrend we can observe price action selling signals on 1 H , 4 H or Daily time frame till price lies below 2246 area to enjoy downtrend
Last week we were expecting a upside pullback for ZINC as shown in the above price chart.
Ideally pullback levels start from 2671 till 2969 zone.
This week we are planning to observe selling signals in between the flip resistance zone of 2671 to 2969
Key reversal area i.e multiple affected area of 1987 is clearly seen in the above price chart of ALUMINIUM.
We will wait till the test of 1987 area.
Aggressively we can go long at 1987 area if we get buying signal on 1 H , 4 H or daily time frame at around 1987 location.
Stay connected we will update on this.
12832 around area is seen strong key reversal area to get a bullish stroke as shown above in the price chart of NICKEL.
We will wait till the test of 12832 around area.
Stay connected we will post next updates on NICKEL.
Flip resistance and healthy pullback area is clearly seen at around 6531 area
Price action sell signals has to be observed at flip resistance area till 6531 area to connect with the flow of aggressive downtrend for COPPER.
Watch price action selling signals on 4 H or daily time frame till around 6531 area to come down with aggressive downtrend.
As it is a aggressive downtrend we can observe price action sell signals on 1 H , 4 H or daily time frames at respective flip levels to enjoy the downtrend.