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MARKET ANALYSIS

Because FTSE100 formed a Channel Up pattern, we expect it to touch the support line. If it breaks through support it may move much lower

FTSE100 is trapped in a Channel Up formation, implying that a breakout is Imminent. This is a great trade-setup for both trend and swing traders. It is now approaching a resistance line that has been tested in the past. Divergence opportunists may be very optimistic about a possible breakout and this may be the start of a new trend. It may also be that this convergence factor may result in the ideal setup for swing traders that are on the lookout for a possible bounce-back. Whatever happens, an initial move towards 8637.3486 is expected in the short term.

XAUUSD may be at the start of a new bearish trend after breaking through this important support level.

XAUUSD has broken through a support line. Since it has previously retraced from this price, wait for confirmation of the breakout before trading. It has touched this line several times over the past 7 days. This suggests a possible target around 4257.3154 within the next 2 days.

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USDJPY has broken through the resistance of a Triangle. It has touched this line at least twice in the last 10 days.

USDJPY has broken through the resistance line of a Triangle technical chart pattern. Because it has retraced from this line in the past, you should wait for confirmation of the breakout before taking any action. It has touched this line twice in the last 10 days, which suggests a possible target around 160.0510 within the […]

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A final push is possible for S&P500 as it approaches 6530.6899.

S&P500 is moving toward a key support level at 6530.6899. This level has been tested before for S&P500. This may present a good trading opportunity either at the spot price or after a breakout through this level.

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After repeatedly testing 55.6400, LTCUSD has finally broken through. Can we expect a bearish trend to follow?

LTCUSD has broken through a support line. Since it has previously retraced from this price, wait for confirmation of the breakout before trading. It has touched this line several times over the past 7 days. This suggests a possible target around 54.2660 within the next 2 days.

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NGC/USD keeps moving closer to 2.9465. Will it finally breach this level?

NGC/USD is approaching the line at 2.9465. If this move continues, the price of NGC/USD could test 2.9465 within the next 8 hours. But do not rush to trade. It has tested this line many times in the past, so the move could be short-lived and end in a rebound.

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After repeatedly testing the support line, NAS100 is once again approaching it. Can we expect a bearish trend to emerge?

An emerging Channel Down pattern has been detected for NAS100 on the 4 hour chart. There may be a move toward 23193.4483 in the next few candles. Once it reaches the support, it may continue its bearish run or revert to current price levels.

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Consider a move on BRN/USD as it heads toward support.

BRN/USD is moving toward a support line. Since it has retraced from this line before, we may see either a breakout through it or a rebound to current levels. It has touched this line multiple times in the past 2 days and may test it again within the next 8 hours.

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