Traders Edge: Market Briefing 11/10/23
11 October 2023
In today’s Trader’s Edge Market Briefing, Tomasz has identified the following unique setups that may catch your interest:
- S&P 500: Bouncing off the long-term uptrend line, currently challenging the neckline of the head and shoulders pattern.
- NASDAQ: Aiming the upper line of the wedge pattern, a possible breakout could signal a buying opportunity.
- DAX: Poised to target a key horizontal resistance and the upper line of the wedge in the near future.
- EURUSD: Forming a shooting star on the neckline of the inverse head and shoulders, indicating potential for a bounce.
- USDCHF: Descending after breaching 0.91, a support-turned-neckline of a double top formation.
- GBPCHF: Persisting in a narrow sideways trend, presently testing the formation's support.
- Gold: Targeting an upward trajectory, potentially aiming for a $1900 per ounce horizontal resistance.
- Silver: Advancing upwards with a possible target of $22.24 per ounce resistance.
- Oil: Trading flat and moving sideways after an initial Monday upswing, with future movements potentially influenced by developments in the Middle East.