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MARKET ANALYSIS

NGC/USD is signaling a possible trend reversal on the intraday charts with price not breaching resistance.

NGC/USD 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 2.8963 is expected in the short term.

Big bearish swing on FTSE100 – this may be one of its more notable movements in the recent session.

FTSE100 reached 9295.12 after a 1.46% move spanning 2 days.

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LTCUSD keeps moving closer towards 90.0200. Will it finally breach this level?

LTCUSD is about to retest a key horizontal support level near 90.0200. It has tested this level 5 times in the recent past and could simply bounce off like it did last time. However, after this many tries, maybe it’s ready to start a new trend.

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LTCUSD keeps moving closer towards 98.7500. Will it finally breach this level?

LTCUSD is about to retest a key horizontal resistance level near 98.7500. It has tested this level 4 times in the recent past and could simply bounce off like it did last time. However, after this many tries, maybe it’s ready to start a new trend.

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Will FTSE100 break through the resistance level it tested before?

The movement of FTSE100 towards 9448.3301 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 7 hours, but it is uncertain whether it will result in a breakout through this line, or simply rebound back to current lines.

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BRN/USD – approaching a resistance line that has been previously tested at least twice in the past

BRN/USD is heading towards the resistance line of a Channel Down. If this movement continues, the price of BRN/USD could test 62.1069 within the next 18 hours. It has tested this line numerous times in the past, so this movement could be short-lived and end up rebounding just like it did in the past.

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A final push possible on GBPJPY as it starts approaching a price line of 202.8255.

GBPJPY is about to retest a key horizontal resistance level near 202.8255. It has tested this level 3 times in the recent past and could simply bounce off like it did last time. However, after this many tries, maybe it’s ready to start a new trend.

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A possible move on NGC/USD as it heads towards support

Emerging Channel Down detected on NGC/USD – the pattern is an emerging one and has not yet broken through resistance, but the price is expected to move up over the next few hours. The price at the time the pattern was found was 2.831 and it is expected to move to 2.6183.

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