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MARKET ANALYSIS

NAS100 is approaching a resistance line of a Ascending Triangle. It has touched this line numerous times in the last 16 days.

NAS100 is trapped in a Ascending Triangle formation, implying that a breakout is Imminent. This is a great trade-setup for both trend and swing traders. It is now approaching a support 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 21883.4085 is expected in the short term.

FTSE100 hits 8468.08 after a 10.3% move spanning 24 days

FTSE100 has moved higher by 10.3% from 7677.0 to 8468.08 in the last 24 days.

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XAUUSD may be on a start of a new bearish trend after its breakout through this important support level

XAUUSD has breached the support line at 3260.0820. It may continue the bearish trend towards 3198.8701, or, it may prove to be yet another test of this level.

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

XAGUSD is moving towards a support line which it has tested numerous times in the past. We have seen it retrace from this line before, so at this stage it isn’t clear whether it will breach this line or rebound as it did before. If XAGUSD continues in its current trajectory, we could see it […]

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LTCUSD heading towards a price it has tested 3 times in the recent past.

LTCUSD is approaching a resistance line at 87.2200. If it hits the resistance line, it may break through this level to continue the bullish trend, or it may turn around back to current levels.

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NAS100 is quickly approaching the resistance line of a Channel Up. We expect either a breakout through this line or a rebound.

A Channel Up pattern was identified on NAS100 at 19615.3276, creating an expectation that it may move to the resistance line at 20550.7849. It may break through that line and continue the bullish trend or it may reverse from that line.

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GBPJPY heading towards a price it has tested 4 times in the recent past.

The price of GBPJPY in heading back to the resistance area. It is possible that it will struggle to break through it and move back in the other direction. The price may eventually break through, but typically the price retreats from the level a number of times before doing so.

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After testing 3.2505 numerous times, NGC/USD is once again approaching this price point. Can we expect a bullish trend to follow?

The price of NGC/USD in heading back to the resistance area. It is possible that it will struggle to break through it and move back in the other direction. The price may eventually break through, but typically the price retreats from the level a number of times before doing so.

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