MARKET ANALYSIS

A strong resistance level has been identified at 6122.9702 on the 30 Minutes S&P500 chart. S&P500 is likely to test it soon.

XAGUSD is moving towards a key resistance level at 32.9415. This is a previously tested level for XAGUSD. This could be a good trading opportunity, either at the spot price, or after breaching this level.

FTSE100 has breached the resistance line at 8258.4297. It may continue the bullish trend towards 8508.9492, or, it may prove to be yet another test of this level.

Emerging Rising Wedge detected on BTCUSD – the pattern is an emerging one and has not yet broken through support, but the price is expected to move up over the next few hours. The price at the time the pattern was found was 88854.09 and it is expected to move to 90128.4208.

For those of you that don’t believe in trends, this may be an opportunity to take advantage of an exceptional 6.57% move on NAS100. The movement has happened over the last 14 days. For those trend followers among you, you may think about riding this possible trend.

XAUUSD has moved higher by 5.97% from 3291.43 to 3487.8595 in the last 5 days.

USDJPY has moved lower by 5.99% from 149.8435 to 140.8735 in the last 26 days.

S&P500 is approaching a support line at 5084.6201. If it hits the support line, it may break through this level to continue the bearish trend, or it may turn around back to current levels.