31st August Wednesday 2022: Technical Outlook and Review
On the H4, with prices breaking out of the ascending trendline and moving below the ichimoku indicator, we have a bearish bias that price will drop to 1st support at 3945.01 where the pullback support and 61.8% fibonacci retracement are.
30th Tuesday 2022 Thursday: Technical Outlook and Review
On the H4, with prices breaking out of the ascending trendline, we have a bearish bias that price will drop from 1st resistance at 4089.97 where the pullback resistance is to the 1st support at 3945.01 where the pullback support and 61.8% fibonacci retracement are. Alternatively, price could rise to 2nd resistance at 4182.68 where the pullback resistance is.
29th Monday 2022 Monday: Technical Outlook and Review
On the H4, with prices breaking out of the ascending trendline, we have a bearish bias that price will drop from 1st resistance at 4089.97 where the pullback resistance is to the 1st support at 3945.01 where the pullback support and 61.8% fibonacci retracement are.
26th Friday 2022 Thursday: Technical Outlook and Review
On the H4, with prices moving above the ichimoku indicator, we have a bullish bias that the price will rise from 1st support at 4182.68 where the pullback support is to the 1st resistance at 4322.79 where the swing high resistance, 100% fibonacci projection and 127.2% fibonacci extension are.
25th August 2022 Thursday: Technical Outlook and Review
On the H4, with prices moving above the ichimoku indicator, we have a bullish bias that the price will rise to 1st resistance at 4182.68 where the pullback resistance and 23.6% fibonacci retracement are. Once there is upside confirmation of price breaking 1st resistance structure, we would expect bullish momentum to carry price to 2nd resistance at 4322.79 where the swing high resistance, 100% fibonacci projection and 127.2% fibonacci extension are.
Hong Kong Severe Weather Condition Alert
Dear Trader, Please note that the Hong Kong Observatory has issued a Tropical Cyclone Warning Signal number 8 which may affect the operation of the Hong Kong Stock Exchange.
24th August 2022 Wednesday: Technical Outlook and Review
On the H4, with prices moving above the ichimoku indicator, we have a bullish bias that the price will rise to 1st resistance at 4182.68 where the pullback resistance is. Once there is upside confirmation of price breaking 1st resistance structure, we would expect bullish momentum to carry price to 2nd resistance at 4322.79 where the swing high resistance and 127.2% fibonacci extension are.
Tesla (TSLA.NAS) Stock Split
Dear Trader, Please be informed that Tesla (TSLA.NAS) has scheduled a 03-for-1 stock split for the 25th of August 2022.
23rd August 2022 Tuesday: Technical Outlook and Review
On the H4 chart, price has confirmed a bullish momentum breaking the previous high and testing the first resistance at 137.602 where the 78.6% fibonacci retracement and 161.8% extension sits. If bullish momentum continues, it will bring the price to 139.369 where the swing high sits. Alternatively if price pulls back, it should test the first support at 135.524 and the second support at 131.766
