Skip to content ETHUSD 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 5 days and may test it again within the next 21 hours.
A Rising Wedge pattern was identified on S&P500 at 6088.13, creating an expectation that it may move to the resistance line at 6113.5116. It may break through that line and continue the bullish trend or it may reverse from that line.
GBPJPY was identified at around 188.383 having recently rebounded of the resistance on the 30 Minutes data interval. Ultimately, the price action of the stock has formed a Falling Wedge pattern. This squeeze may increases the chances of a strong breakout. The projected movement will potentially take the price to around the 187.1123 level.
Those of you that are trend followers are probably eagerly watching LTCUSD to see if its latest 20.98% move continues. If not, the mean-reversion people out there will be delighted with this exceptionally large 6 days move.
NAS100 is heading towards the support line of a Rising Wedge. If this movement continues, the price of NAS100 could test 21608.6332 within the next 17 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.
Emerging Channel Up pattern in its final wave was identified on the XAUUSD 1 hour chart. After a strong bearish run, we find XAUUSD heading towards the upper triangle line with a possible resistance at 2834.4833. If the support shows to hold, the Channel Up pattern suggests a rebound back towards current levels.
NGC/USD 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 3.8049 may materialize within the next 3 days.
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