As per the chart above, gold is trying to take a U-Turn. It can slip for 47460 – 46760 – 46260 levels.
As per the S-RSI, it will start running upside soon for the dynamic resistance level of 53900. Hence, targets: 49560 – 50000 – 52000 – 53000+
Don’t forget to keep your eyes on downtrend level 46260.
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As per the above chart, the parallel channel’s uptrend line can use as a stop loss.
Hurdle: 162.6
Based on the current trend:
Uptrend targets: 165 – 170+
Based on Fib. Retracement:
Downtrend targets: 158.2 – 152.2 – 149.2
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On INFY there is a perfect channel is formed. The stock is revolving between the channel.
Price is currently near the control line. It is expected to move from the current level to 752 price point, that is till B point.
Below 723 price can be bearish.
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Keep your eyes peeled at the support trendline. It could fly from here for 1.25300 level. But this can happen only after two consecutive positive close.
As per the S RSI, it’s under downtrend. Hence, complete breakout means a direct target of 1.21000.
Note: beware of fake out.
The stock is following Long move downwards.
Head and shoulder pattern is formed between 8 Feb 2019 to 14 jun 2019, 82 bars.
After the pattern formed there was 61 point reversal that is from 167 price slop down to 106.
TATAMOTORS followed with rounded top and there was a continues fall that is stock has reversed from 202 to 63 equal to 139 point reversal.
Now TATAMOTORS is forming a disjoint channel 23 mar 2020 till now
There is increase in volume fluctuation.
Support near 93.50
Below 87.32 bearish
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Gold has made a new high as per the last update based on Elliott wave theory. You can check the last updated chart: This GOLD Elliott Wave Will Confirm The Next Move
For intraday traders:
If that is a right shoulder, C (T1) and C (T2) are the next targets. S RSI is confirming the downtrend by crossover.
For the long-term investor (Hurdle Breakout):
T1: 47560
T2: 47260
T3: 47000
Invalid: Above 48400 OR Head.
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