For the last few weeks we have clearly indicated that on a broader view Dow trend remains sideways to range bound .However short term trend is bullish and the strength of the present uptrend will remain intact till it does not close below 24750. Follow the levels given below and create your own trading plan. These levels are very important on closing basis.
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MAJOR SUPPORT LEVELS ON CLOSING BASIS ARE:: 24800-24600-24400-24000-23500-23350
MAJOR RESISTANCE LEVELS ON CLOSING BASIS ARE :: 25400-25500-25800-26620
Those who followed buy on decline strategy must have been rewarded handsomely last week. Look at the chart above. 7700 support was not breached and a good rally followed from there. Trend remains strongly bullish and buy on decline strategy will remain valid till we get a closing below 7700. Follow the levels given below and create your own trading plan. These levels are very important on closing basis.
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MAJOR SUPPORT LEVELS ON CLOSING BASIS ARE 7700-7570-7510-7420-7310-7200
MAJOR RESISTANCE LEVELS ON CLOSING BASIS ARE ::7925-7980-8020-8150-8340
Look at the chart above and see how accurately Gann support level has worked. Crude took support exactly at Gann support 66.6. Trend will remain bullish till it closes below 66. In case if this support is broken then trend become side ways and next major support exists in the zone of 63.5 to 63.8.Follow the levels given below and create your own trading plan. These levels are very important on closing basis.
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MAJOR SUPPORT LEVELS ON CLOSING BASIS ARE:: 66.6-63.5-61.5
MAJOR RESISTANCE LEVELS ON CLOSING BASIS ARE :: 69.5-71-71.7-72.4-75
After breaking the crucial Gann support zone it went very close to the next support near 1205. Gold made a low of 1211 and a good 20 points bounce from there. Trend remains week and sell on rallies are better trade now. Follow the Gann levels given below and create your own trading plan.
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MAJOR SUPPORT LEVELS ON CLOSING BASIS ARE:: 1205-1180-1120-1045
MAJOR RESISTANCE LEVELS ON CLOSING BASIS ARE :: 1245-1266-1288-1315
Short term trend is sideways to downward.Go short on rallies. 1.1675 and 1.1750 are short term resistance levels.
No change in positional view or levels. The trend of EUR/USD is weak but it has reached a very crucial Gann support level. So positional traders must watch the Gann support zone 1.1509 to 1.1445. Breaking of this support zone may take it to the next level of 1.1075. Follow the levels given below and create your own trading plan. These levels are only for positional trading and are very important on closing basis.
Those who are interested in complete News letter and detailed weekly trading plan with precise Buy/Sell entry levels & minimum SL can subscribe for it. To subscribe visit the following page https://www.artoftrading.co.in/newsletters
MAJOR SUPPORT LEVELS ON CLOSING BASIS ARE:: 1.1509 / 1.1445 / 1.1075
MAJOR RESISTANCE LEVELS ON CLOSING BASIS ARE :: 1.1860 / 1.2035 / 1.2211
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