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<b> MARKET</b> ANALYSIS <b> MARKET</b> ANALYSIS

MARKET ANALYSIS

Cutting-Edge Market Commentary for Informed Strategy Making

DAILY TECHNICAL ANALYSIS 24/11/2022


AUDUSD

Last week AUDUSD found support between 1.33261 and 1.32278 and formed a range in the first 3 days of the week.


With a confirmed break it started to show some bullish bias and formed a short-term trend line which it broke earlier this week.


Now the price seems to retest the 1.33261 level, something important to mention here is that the RSI is starting to have a positive divergence.


If the price bounces to this important level, we may see the price move around R1


If the price fails to bounce back and break below this level, we may see the price move back into this range.


DJ30

DJ30 for the past 2 weeks has been in an uptrend, with no sign to the contrary.


Now the price is at an important level which is a resistance level in the higher time frame.

 

If the price finds resistance at this level, we may see a correction around 50%.


If the price successfully breaks above this level, this is a game changer, we may see the bullish action continue.


SOLUSD

Crypto sector in general is in a bear market, from a short term view sol has manged to make higher highs and lower highs.


Now we may see a correction until 13.30 and a bounce back until the most recent higher high which is around 14.95.


If the price fail to bounce and break below trendline and support we migh see the price going back to the most recent lower low which is around 10.94



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