XAUUSD has broken through the resistance line which it has tested twice in the past. We have seen it retrace from this line before, so one should wait for confirmation of the breakout before trading. If this new trend persists, a target level of around 2697.8181 may materialize within the next 5 hours.
NGC/USD is moving towards a resistance line. Because we have seen it retrace from this line before, we could see either a break through this line, or a rebound back to current levels. It has touched this line numerous times in the last 14 days and may test it again within the next 2 days.
A Channel Up pattern was identified on ETHUSD at 3530.59, creating an expectation that it may move to the support line at 3403.3862. It may break through that line and continue the bearish trend or it may reverse from that line.
The breakout of BRN/USD through the 72.6370 price line is a breach of an important psychological price that is has tested numerous in the past. If this breakout persists, BRN/USD could test 72.1950 within the next 5 hours. One should always be cautious before placing a trade, wait for confirmation of the breakout.
S&P500 moved through the support line of a Rising Wedge at 6002.303124999999 on the 4 hour chart. This line has been tested a number of times in the past and this breakout could mean an upcoming change from the current trend. It may continue in its current direction toward 5969.3006.
You would be well advised to confirm the breakout that has just occurred – do you believe the move through resistance to be significant? Do you have confirming indicators that the price momentum will continue? If so, look for a target of 192.2997 but consider reducing the size of your position as the price gets […]
The movement of XAUUSD towards 2617.9399 price line is yet another test of the line it reached numerous times in the past. We could expect this test to happen in the next 2 days, but it is uncertain whether it will result in a breakout through this line, or simply rebound back to current lines.
