https://www.tradingview.com/x/MXfepmvH/
Please refer to my previous live market analysis on this commodity where recommended buy at 1.618. Plotted is my wonderful indicator Rekhi144 which shows it has made a solid base at this price and closed at around 1.65. You can vouch that it is still in bearish mode because of following reasons:
(i) There is imbalance in left and right shoulders.
(ii) price closed under 100 SMA and 200 SMA.
(iii) it will take around 5 hours on Monday for the price to come in balance.
(iv) Then at least 3 hours next for price to close above 1.618 and make right shoulder heavier than left shoulder.
Short term target 1.71.
Conclusion: For the simplicity of understanding of all of us; at 4:30 price should be above above 100 SMA with 18 SMA cutting 36 SMA from below. If this is not the situation, wait for the evening session. I will keep you posted about the same.
Disclaimer: I am not a registered analyst with any of the National/ International agency. This is only for the educational purposes. Please consult your financial advisor before making any decision. I will not be responsible of any of your profits or losses.
Let you grow, May! I follow you.
Thank you
Please refer to my previous live market analysis on this commodity where recommended buy at 1.618. Plotted is my wonderful indicator Rekhi144 which shows it has made a solid base at this price and closed at around 1.65. You can vouch that it is still in bearish mode because of following reasons:
(i) There is imbalance in left and right shoulders.
(ii) price closed under 100 SMA and 200 SMA.
(iii) it will take around 5 hours on Monday for the price to come in balance.
(iv) Then at least 3 hours next for price to close above 1.618 and make right shoulder heavier than left shoulder.
Short term target 1.71.
Conclusion: For the simplicity of understanding of all of us; at 4:30 price should be above above 100 SMA with 18 SMA cutting 36 SMA from below. If this is not the situation, wait for the evening session. I will keep you posted about the same.
Disclaimer: I am not a registered analyst with any of the National/ International agency. This is only for the educational purposes. Please consult your financial advisor before making any decision. I will not be responsible of any of your profits or losses.
Let you grow, May! I follow you.
Thank you
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