XAUUSD Roadmap: The Road to 4350 and the Long-Term ReversalGold Update
After breaking 4104 and holding above it with an 8-hour candle:
Gold targets 4243 first.
Then 4350 as a final and highly important level.
After that, I see it resuming its decline below 4000.
As shown by the blue line.
Note: This is on the daily timeframe, meaning it will take a long time for this scenario to play out.
Fibonacci
GBPAUD Sell Trading Opportunity SpottedH1 - Strong bearish move.
Currently it looks like a pullback is happening.
Expecting bearish continuation until the two Fibonacci resistance zones hold.
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BTCBTC/USDT
Bias:
Short‑term: Bullish momentum likely to continue, with potential for a push higher before resistance.
Medium‑term (Swing): Anticipated bearish reversal once short‑term strength exhausts, setting up a swing‑trade opportunity.
Phase 1 – Short‑Term Bullishness
Look for continuation signals such as strong candles, volume confirmation, or momentum indicators turning positive.
Consider entering long positions for the short‑term move.
Manage risk with tight stops to avoid being caught in sudden reversals.
Exit once signs of exhaustion or rejection appear.
Phase 2 – Swing Bearishness
Watch for rejection patterns, weakening momentum, or bearish divergence.
Enter short positions once confirmation of reversal is seen.
Swing targets can be managed by scaling out gradually as the move develops.
Use wider stops to account for volatility in swing trades.
Gold(XAUUSD) outlook and trade setup for today.Price got rejected form an important resistance level of 4140, currently its retracing, the retracement might retest the horizontal support zone of 4080 and after consolidating tat that level for some more time might give a breakout on the bullish direction. Trend is very strong and there is very high chance of price continuing in upward direction.
Immediate resistance is at 4140 and support is at 4080 and below that next support is at 4045.
Outlook remain on the bullish to sideways direction, only buy trades should be preferred at support levels.
For Educational Purposes only, Not an Investment Advice, Always use strict Risk management measures.
Regards
CrazyTrades247.
XAUUSD may be heading to $3795 - FxDollarsAnalysis -[22/07/2026]XAUUSD Short at cmp 4118, entry point was 4127
and Short limit at 4132
Stop loss at 4142
Take profit at 3795
Disclaimer:- This report is prepared for general informational purposes only and does not constitute personalized investment advice . This report includes general investment opinions such as buy, hold, or sell conclusions. All analysis is based on publicly available information and reflects the author’s independent judgment at the time of publication. The content is intended for distribution to multiple recipients and should not be relied upon for individual financial decisions. Vincent (Vishal Budhrani) is not licensed by the Hong Kong Securities and Futures Commission (SFC) to provide personalized investment advice.
#Gold #XAUUSD #MarketCrash #TradingView #FinanceNews #InvestSmart #Commodities #GoldPrice #TechnicalAnalysis
NQ Power Range Report with FIB Ext - 7/22/2026 SessionCME_MINI:NQU2026
- PR High: 29310.75
- PR Low: 29253.00
- NZ Spread: 80.25
No key scheduled economic events
Session Open Stats (As of 12:15 AM)
- Session Open ATR: 652.44
- Volume: 34K
- Open Int: 290K
- Trend Grade: Short
- From BA ATH: -6.0% (Rounded)
Key Levels (Rounded - Think of these as ranges)
- Long: 31904
- Mid: 29517
- Short: 27131
Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
BA: Back Adjusted
BuZ/BeZ: Bull Zone / Bear Zone
NZ: Neutral Zone
As $USO goes $CVX $XOM will followAMEX:USO is currently making a v-shape recovery back to it's previous highs. Unsure if it will return there but this is my idea.
If AMEX:USO can get above the 61.8% on the fib around $134, I would say yes. Have you missed the entire move? No as it still will track back towards $150 before it will hit a bit of exhaustion, before another decision in the market is made.
Trade ideas NYSE:CVX NYSE:XOM
Americana : Is a Breakout Around the Corner ?TADAWUL:6015
📈 5-Week Consolidation: Is a Breakout Around the Corner? 🚀
After spending nearly five weeks consolidating around the 2.00 level, price continues to hold within a tight range, with the recent swing high forming near 2.09.
This prolonged consolidation is becoming increasingly interesting from a price action and technical analysis perspective.
🔍 Key Technical Structure
🔹 Trendline support remains intact, suggesting buyers are still defending the underlying structure.
🔹 Price is also sustaining above the 2.03 resistance zone. If this level continues to hold as support, it could signal a potential resistance-to-support flip and increase the probability of an upside breakout.
🔹 After several weeks of sideways price action, a confirmed breakout could trigger a strong momentum expansion.
🎯 Potential Upside Targets
If price confirms a bullish breakout and maintains its position above the key resistance zone:
📌 Immediate upside target: 2.50–2.70
📌 Extended Fibonacci target: 3.20–3.50
📌 Key reference: 0.618 Fibonacci retracement/extension zone
⚠️ Setup Invalidation
The bullish thesis would be invalidated if price breaks decisively below the rising trendline support.
In that scenario, the consolidation structure could fail and price may potentially retrace toward the 1.75 support zone.
📊 My View
The market appears to be coiling after an extended period of consolidation.
As long as trendline support remains intact and price sustains above 2.03, the technical structure continues to favor a potential bullish breakout.
A confirmed breakout above the recent 2.09 swing high could provide the momentum needed for the next leg higher.
Is this consolidation preparing for a breakout, or will the trendline eventually fail? 👀
Share your view below. ⬇️
🔖 Hashtags
#TechnicalAnalysis #TradingView #PriceAction #Breakout #BreakoutTrading #BullishSetup #BullishTrend #SwingTrading #MarketStructure #Trendline #SupportAndResistance #ResistanceBreakout #Fibonacci #FibonacciRetracement #PriceTarget #MomentumTrading #ChartAnalysis #TradingIdeas #TradeSetup #StockMarket #Investing #TechnicalTrader #TrendFollowing #TradingStrategy #MarketOutlook #Bullish #WiSHFundManagement
EURGBP at Major Support — Is a Bullish Reversal Finally Here?EURGBP ( FX:EURGBP ) is currently trading inside a heavy support zone(0.8511 GBP-0.8444 GBP)). On the higher timeframe, we can also see a Positive Regular Divergence (RD+) between two consecutive valleys, which could be an early sign of a potential bullish reversal.
From an Elliott Wave perspective, EURGBP appears to have completed its five-wave bearish structure, suggesting that a corrective move to the upside may begin soon.
The key trading level to monitor if EURGBP starts moving higher is 0.8522 GBP.
I expect EURGBP to rebound from the Potential Reversal Zone(PRZ) and continue its bullish correction, with an initial target around 0.8510 GBP.
First Target: 0.8510 GBP
Second Target: 0.8519 GBP
Stop Loss(SL): 0.8465 GBP
What’s your view on EURGBP? Do you think the pair can resume its bullish trend, or should we expect another bearish move first?
💡 Please respect each other's opinions and express agreement or disagreement politely.
📌Euro/ British Pound Analyze (EURGBP), 1-hour time frame.
🛑 Always set a Stop Loss(SL) for every position you open.
✅ This is just my idea; I’d love to see your thoughts too!
🔥 If you find it helpful, please BOOST this post and share it with your friends.
XAUUSD M30 — Can 4,084 Open 4,108?Gold is showing a clear short-term recovery on the M30 chart.
After building a base around the 4,000 area, price broke higher and is now trading around 4,070 - 4,080.
The move looks strong, but the chart is already close to the first important resistance.
So for the US session, I do not want to chase blindly.
I want to see if buyers can protect the M30 structure.
The simple read
Gold is currently moving above the rising trendline.
The short-term structure remains positive while price holds above the 4,069 OB buy scalping zone.
This area also connects with the Fibonacci reaction zone, so it becomes an important support for the current intraday recovery.
The first upside test is 4,084.
If gold breaks and holds above 4,084, buyers may try to continue toward the target zone near 4,108.
But if gold rejects from 4,084, a retest back toward 4,069 may appear first.
Key price zones
Current price area: 4,070 - 4,080
M30 OB buy scalping zone: 4,069
First resistance: 4,084
Target zone: 4,108
Trendline support: 4,060 - 4,069
Bullish structure weakens below: 4,069
Trading plan for US session
📈 Bullish continuation scenario
If gold holds above 4,069:
The M30 recovery structure remains valid.
Buyers may try to push price toward 4,084.
If 4,084 breaks and holds, the next target zone becomes 4,108.
A clean bullish setup needs price to hold above the trendline or retest 4,069 successfully.
📉 Rejection scenario
If gold rejects from 4,084:
Price may pull back toward 4,069.
This would not automatically break the bullish view.
It may simply be a healthy retest before the next decision.
A clean reaction from 4,069 could support another push higher.
📉 Weakness scenario
If 4,069 breaks clearly:
The M30 bullish structure becomes weaker.
Gold may need a deeper pullback before buyers can rebuild momentum.
In that case, I would avoid forcing a buy until price gives a new confirmation.
Tiara’s View
Gold is improving on M30, but the US session is now testing a sensitive area.
For me, the key is not the fast move.
The key is whether price can hold above 4,069 and break 4,084 with strength.
XAUUSD — Did Gold Just Break 4,070?Gold is showing a stronger short-term recovery today.
Price has pushed into the 4,070 area, which is an important reaction zone on the chart.
This zone is not random.
It lines up with the OB sell scalping area and the Fibonacci extension reaction around 1.618.
So even though buyers are showing strength, I still do not want to chase blindly at the top of the candle.
The simple read
Gold has escaped the previous bearish channel pressure and is now building a short-term recovery structure.
The rising trendline is supporting price from below.
As long as gold holds above 4,025 and 4,003, the recovery structure can remain valid.
The key level now is 4,070.
If gold breaks and holds above 4,070, buyers may try to continue toward the liquidity resistance zone around 4,102.
But if price fails to hold above 4,070, a pullback toward 4,025 may appear first.
That pullback would not automatically destroy the bullish view.
It may simply be a retest before the next decision.
Key price zones
Current price area: 4,065 - 4,075
Breakout / reaction zone: 4,070
Liquidity resistance zone: 4,102
Trendline / OB buy reaction zone: 4,025
Main OB buy zone: 4,003
Bullish structure weakens below: 4,003
Trading plan
📈 Bullish continuation scenario
If gold holds above 4,070:
The recovery structure becomes stronger.
Buyers may try to push price toward 4,102.
A cleaner bullish idea needs price to stay above 4,070 or retest this level successfully.
No clean hold = no strong confirmation.
📉 Retest scenario
If gold rejects from 4,070:
Price may pull back toward 4,025.
This is the first important support zone connected with the rising trendline and OB buy reaction area.
If buyers defend 4,025, gold may try another push toward 4,070 and 4,102.
📉 Deeper pullback scenario
If 4,025 fails:
Gold may move lower toward 4,003.
This is the main OB buy zone on the chart.
If 4,003 also fails, the short-term recovery becomes weaker and the market may need more time to rebuild.
Tiara’s View
Gold is improving, but the chart is now testing a very sensitive breakout area.
A breakout candle can look exciting.
But the real confirmation comes from the hold or the retest.
For today, I am watching one question:
Can buyers protect 4,070?
If yes, 4,102 becomes the next liquidity target.
If not, the market may pull back to test 4,025 first.
Main view:
Gold is short-term bullish while holding above 4,025.
4,070 is the breakout decision zone.
4,102 is the next liquidity resistance.
4,025 - 4,003 is the key support area if price pulls back.
Reaction first.
Confirmation second.
Trade last.
No confirmation = no trade.
Do you think gold can hold above 4,070, or will it retest 4,025 first?
$BSB / USDT: Macro Elliott Wave 3 Expansion SetupStrategy: Mid to Long-Term Bullish Accumulation / Reversal
Pattern: Daily Falling Wedge at Wave 2 Demand Apex
Current Price Zone and ideal Entry Price Zone: $0.129 – $0.138
📊 Elliott Wave & Fibonacci Level Breakdown
Wave 1 (Initial Impulse): Established the primary structural swing high from cycle lows near $0.080 up to resistance.
Wave 2 (Current Bottoming Phase): Retracing 61.8% – 78.6% Fib of Wave 1 into the current $0.125 – $0.138 demand pocket. Limit order absorption (flat price despite sell CVD) signals this macro pullback is completing inside the falling wedge apex.
Wave 3 (Macro Parabolic Expansion): Projected 1.618x – 2.618x Fib extension of Wave 1. Upside expansion targets $0.35 – $0.85.
Wave 4 (Consolidation / Pullback): Projected shallow 23.6% – 38.2% Fib retracement of Wave 3.
Wave 5 (Macro Blow-Off Top): Projected 0.618x – 1.000x Fib extension of Waves 1–3 combined, targeting $1.50 – $2.00+.
🔄 Reloading Scenarios: Wave 2 vs. Wave 4 Strategy
🔥 Primary Opportunity: Wave 2 Reloading (Heavy Capital Deployment)
Zone: $0.125 – $0.138 (Current Golden Pocket / Wedge Apex)
Rationale: Wave 2 offers the maximum Risk-to-Reward ratio across the entire Elliott Wave cycle. Reloading heavily here allows you to front-run the longest, most violent leg of the trend (Wave 3) while maintaining a tight, well-defined invalidation level.
Execution: Maximize position sizing in this accumulation floor.
⚡ Secondary Opportunity: Wave 4 Reloading (Optional Scale-In)
Zone: Shallow pullback zone after Wave 3 completion (estimated around $0.32 – $0.38, depending on Wave 3 peak).
Rationale: Wave 4s in altcoin macro trends tend to be brief, complex, or shallow (23.6%–38.2% Fib). Reloading here is strictly optional for compounding gains or adding trailing margin before Wave 5, but offers significantly less R:R compared to the Wave 2 base.
🎯 Key Targets & Risk Management
Invalidation / Stop Loss: Daily close below $0.120 (Invalidates Wave 2 bottom structure)
TP 1 (Wave 3.1 Breakout / Wedge Target): $0.35 – $0.50
TP 2 (Wave 3 Macro Extension): $0.75 – $0.85
TP 3 (Wave 5 Cycle Ceiling): $1.50 – $2.00
#BSB #CryptoTrading #ElliottWave #Fibonacci #Altcoins #TradingSetup
EURUSD at Major Resistance — Is a Bigger Correction Beginning?EURUSD ( FX:EURUSD ) is currently trading near a resistance zone($1.1573-$1.1473), the Potential Reversal Zone (PRZ) , and the Resistance Lines.
From an Elliott Wave perspective, EURUSD appears to have completed its Primary Wave 4 near the resistance lines. The overall structure of Wave 4 seems to be developing as a Double Three Correction (W-X-Y).
Also, we can see a Negative Regular Divergence (RD-) between two consecutive peaks, which could be an early sign of weakening bullish momentum.
I expect EURUSD to continue its bearish move in the coming hours and decline at least toward 1.1430. If the bearish momentum increases, the pair could extend its decline further. A break below the key trading level of 1.1428 could open the door for a deeper correction.
First Target: $1.1430
Second Target: $1.1410
Third Target: $1.13920
Stop Loss(SL): $1.1496(Worst)
What’s your view on EURUSD? Do you think the pair can continue its bullish trend, or should we expect a deeper correction?
💡 Please respect each other's opinions and express agreement or disagreement politely.
📌 Euro/U.S Dollar Analyze (EURUSD), 1-hour time frame.
🛑 Always set a Stop Loss(SL) for every position you open.
✅ This is just my idea; I’d love to see your thoughts too!
🔥 If you find it helpful, please BOOST this post and share it with your friends.
CADCHF Short Term Buy IdeaH1 - Strong bullish move.
Currently it looks like a pullback is happening.
Until the two Fibonacci support zones hold I expect the price to move higher further after pullbacks.
If you enjoy this idea, don’t forget to LIKE 👍, FOLLOW ✅, SHARE 🙌, and COMMENT ✍! Drop your thoughts and charts below to keep the discussion going. Your support helps keep this content free and reach more people! 🚀
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CRML: upside potentialPrice has reached a mid-term support for a higher-low formation and is showing constructive signs of a potential reversal, with several days of tight consolidation slightly below key moving averages.
Chart:
As long as price holds above the recent June lows, we are watching for a potential breakout and reclaim of the 50DMA (11 level as of the date of writing), with the next target resistance level at 14.70.
Previously:
On upside potential in Apr
/
TVSMOTOR: 1H Descending Channel Breakout past 61.8% Fib 📊 TVS Motor Company Limited (TVSMOTOR) - 1-Hour (1H) Chart Analysis
This post is shared for EDUCATIONAL PURPOSES ONLY to analyze short-term parallel channel breakouts, Fibonacci structural confluences, and moving average transitions. It is not financial or investment advice.
🎯 Educational Swing Setup:
• Entry Zone: 3,590.00 – 3,622.00 (Sizing into position blocks within this breakout environment or accumulating on minor hourly retests of the 3,600 EMA support zone).
• Target 1: 3,651.50
• Target 2: 3,680
• Target 3: 3,720
• Invalidation / Stop-Loss: 3,540.00 (An hourly candle close back below the pink long-term moving average baseline completely invalidates this breakout continuation structure).
• Expected Duration: 4 to 10 Trading Days (Short-term hourly swing view)
⚠️ Risk Management:
Since the price is actively grinding against the 61.80% Fibonacci barrier, watch for a clean volume continuation spike to validate institutional backing on the breakout extension. Maintain disciplined position sizing!
BITCOIN - A distribution toward 67K before a decline?BINANCE:BTCUSDT.P has transitioned from consolidation into a distribution phase following the breakout above resistance and is now advancing toward a key resistance zone within the broader bearish trend
The fundamental backdrop remains relatively weak for the cryptocurrency market. However, spot Bitcoin ETFs have recorded inflows for five consecutive trading sessions, providing short-term support for the current rally.
From a technical perspective, Bitcoin has broken above the 65,600 resistance level, and the momentum built during consolidation could drive price toward the 67,250 resistance zone. Nevertheless, given the prevailing higher-timeframe bearish trend, this area may act as a significant barrier and halt the advance
Resistance levels: 67,250
Support levels: 65,600, 63,800, 61,800
The broader market trend remains bearish. Price is approaching the key 67,250 resistance zone, where a short squeeze could shift momentum back in favor of sellers. If bears regain control at this level, Bitcoin could reverse and resume its primary downtrend toward 65,600, 63,800, and 61,800
Best regards,
R. Linda
EURO STOXX 50 ($STOXX50) Daily: Testing Key EURO STOXX 50 ( ICMARKETS:STOXX50 ) Daily: Testing Key LTA Channel Support at 6,178 — Bullish Rebound vs. Deep Correction
### 🇪🇺 EURO STOXX 50 Index ( ICMARKETS:STOXX50 ) Daily Technical Framework (Ref: STOXX50_2026-07-21_09-27-32.png)
We are releasing a tactical multi-week technical study on the EURO STOXX 50 Index ( ICMARKETS:STOXX50 ) on the Daily (1D) interval. Following a corrective dip from its major high at 6,636.73, the European benchmark index is testing a critical structural boundary that defines its mid-term trend health.
The index is showing strong intraday buy-side absorption today, trading up at **6,254.80 (+0.98%)**.
---
### 🔍 Structural Architecture & Fibonacci Confluences:
Our quantitative framework highlights a pivotal decision zone defined by several overlapping layers of support and resistance:
1. **The Ascending Channel Support Floor (LTA):** Price action is directly testing the lower boundary of its ascending channel (red diagonal LTA), which has guided the primary upward structure since the April/May swing lows.
2. **Static Role-Reversal Level (6,178.17):** The 0.0 Fibonacci baseline sits squarely at **6,178.17**, matching the horizontal breakout level from March. Buyers have stepped in aggressively to defend this former resistance as new support.
3. **Overhead Fibonacci Retraction Arrays:** Immediate resistance layers above current price sit at **6,296.39 (0.236 Fibo)** and **6,353.34 (0.382 Fibo)**.
---
### 🔄 Dual Structural Scenarios:
We are tracking two distinct pathways depending on how price action resolves relative to the 6,178 support floor:
#### 🐂 Bullish Rebound Scenario (Blue Vector)
* **The Play:** As long as price sustains daily closes above the **6,178.17** baseline, the structural integrity of the ascending channel remains intact.
* **The Upside Targets:** Clearing **6,296.39** opens the path for a recovery leg toward **6,353.34 (0.382 Fibo)**, with extended target projections aiming for the upper trendline near **6,500.00** and eventually the swing high at **6,636.73**.
#### 🐻 Bearish Breakdown Scenario (Red Vector)
* **The Play:** A confirmed daily candle close below **6,178.17** will break the ascending channel to the downside.
* **The Downside Targets:** This failure will trigger a broader corrective cycle, driving price down toward the dynamic dynamic band of the **72-period SMA cluster (6,032.07 – 6,103.99)** and ultimately the institutional **200-period EMA (purple line at 5,891.54)**.
### 📊 Tactical Parameters Summary:
* **Current Bias:** Neutral-Bullish (Holding Support)
* **Primary Support Floor:** 6,178.17 (LTA Confluence)
* **Immediate Resistance Target:** 6,353.34 (0.382 Fibo)
* **Macro Invalidation (Bearish Trigger):** Daily Close below 6,178.00
---
📊 **ChartPro Data**
*European Equity Architecture, Structural Channel Dynamics & Systematic Risk Frameworks.*
⚠️ **Disclaimer:** For educational and informational purposes only. This active market study represents a personal trading framework and does not constitute financial or investment advice.
Gold (XAUUSD) Outlook & setup for today.Following to the big up-move that price has shown in todays trading session it has broke out above the major bearish trendline, and had made a high of ~4085 which is acting as a resistance zone, currently we are expecting a correction till 4035 level which is an important Fib retracement zone & only after that we'll be interested into taking fresh long trades.
Immediate significant support is at 4000 where as immediate resistance is at 4080 & above that at 4100.
Outlook remain on the bullish to sideways direction, only buy trades should be preferred at support levels.
For Educational Purposes only, Not an Investment Advice, Always use strict Risk management measures.
Regards CrazyTrades247.
ETHUSDT - The Battle for a Key Support Zone BINANCE:ETHUSDT.P is showing local bullish momentum and appears stronger than Bitcoin in the current market environment. Price action is focused on the 1800–1850 zone, where buyers and sellers are competing for control
Bitcoin remains in consolidation between 61,000 and 65,000, while the broader market trend is still bearish. The lack of both fundamental and technical support continues to weigh on the crypto market as a whole.
From a technical perspective, Ethereum has broken above resistance, confirming a short-term bullish structure. During the ongoing correction, price is respecting the local trendline while testing the 1808–1848 area of interest
Resistance levels: 1848, 1946, 1966
Support levels: 1833, 1807, 1774
The key trigger remains 1848. If bulls can establish sustained consolidation above this level, it could become the technical catalyst for a move toward 1945–1966
Best regards,
R. Linda
Alphabet – Can Earnings Volatility See a Range Breakout?Alphabet reports its earnings after the market close on Wednesday at a pivotal time in an on-going debate amongst retail traders and investors, over whether the AI trade is a bubble that is starting to deflate or is just taking a breather before initiating its next leg higher.
Alphabet, the owner of Google, is known as a hyperscaler, a company that operates a huge global cloud computing infrastructure. Its Google cloud platform is one of the giants powering the world’s AI, data and internet services, alongside Amazon Web Services (AWS) and Microsoft Azure. More importantly, it’s the first of these key companies to report its earnings. With traders extremely sensitive to levels of AI capital expenditure and on red alert for any signs suggesting this huge spending is starting to generate some significant returns, the outcome of this event could be important, not just for the Alphabet shares but also short-term sentiment toward the entire market.
The Alphabet share price topped at an all-time high of 404.38 on May 18th and has since been range trading between a low of 333.20 hit on June 26th and a high of 374.23 briefly seen on Thursday July 16th, before jitters resurfaced surrounding the AI model released by Chinese startup Moonshot, which saw prices drop back down to a low of 345.51 at the Friday close. However, at the start of this week, the Alphabet price has since rebounded to trade back at 353.15 ahead the company’s earnings release tomorrow.
Interestingly, with so much potential for price volatility resting on the outcome of these earnings, the technical outlook provides a key snapshot of the important levels traders may find useful to monitor, depending on how far the Alphabet results and management guidance deviate from market expectations.
Technical Update: Range Activity Builds Ahead of Earnings between 333.20 and 377.83.
The important focus for Alphabet this week is the release of its latest earnings report after the close on Wednesday and the potential for increased volatility that could result.
As the chart above shows, the earnings data could be important for the Alphabet stock price, with potential for more prolonged directional phases of price activity developing, especially as recent moves have seen prices confined within a sideways range between 333.20 (June 26th low) and 377.83 (61.8% retracement).
We discuss the technical outlook below and attempt to identify the key support and resistance levels that may become relevant if a breakout was to occur.
Potential Resistance Levels:
It appears that the Bollinger mid-average currently at 353.15 could represent the first resistance level this week. How this level is defended on a closing basis may be a gauge on short term price activity. If the Alphabet stock price was to close above 353.15 further upside strength may ensue, but while it caps prices, downside pressure may continue to materialise.
As the chart below shows, if the Alphabet share price were to close above 353.15, it could open potential to test 377.83, which may mark the upper extremes of the current sideways range. 377.83 is equal to the 61.8% retracement level calculated from the May high to June low and could be the key resistance to monitor.
If closes in price are seen above the resistance at 377.83 this week, it might suggest scope for moves to higher levels. This could shift the focus towards 389.63, which is equal to the May 27th high, even on towards 404.38, the May 18th upside extreme.
Potential Support Levels:
While the mid-average resistance at 353.15 continues to cap prices on a closing basis, the risk of further downside pressure may increase. This could shift the focus for traders toward a key support at 333.20 (June 26th session low), which could highlight the current lower range extreme.
A closing break below 333.20 may open potential for further declines to 322.85, which is the 61.8% retracement level (March low to May high). A closing break below 322.85 could see moves extend toward 309.44, which is the April 9th session low.
The material provided here has not been prepared accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Whilst it is not subject to any prohibition on dealing ahead of the dissemination of investment research, we will not seek to take any advantage before providing it to our clients.
Pepperstone doesn’t represent that the material provided here is accurate, current or complete, and therefore shouldn’t be relied upon as such. The information, whether from a third party or not, isn’t to be considered as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any security, financial product or instrument; or to participate in any particular trading strategy. It does not take into account readers’ financial situation or investment objectives. We advise any readers of this content to seek their own advice. Without the approval of Pepperstone, reproduction or redistribution of this information isn’t permitted.






















