EURJPY channel break

• EUR/JPY pair has broken the channel in 4 hour chart.
• If the pair manages to get back into the channel an up move is possible.
• Staying below the support line will favour the bears.

S&P 500 Futures hour in a range

• S&P 500 Futures Hour chart with a range of 1162 - 1181
• Price is trading near the lower end of this range. Further lows are possible only if 1162 breaks. If 1162 area gives support an up move is possible.
• DOW JONES RESISTANCE LINE
  

S&P 500 futures before opening bell

CHART-II

• ES Breaks the support line. Trading below 1164 will be negative for the bulls

CHART-I

• S&P 500 Futures hour chart seems to be developing into an ascending triangle formation with 1181 as the main resistance level. Index is not able to cross this resistance for some time.
• The supporting trend line is also looking strong, So price  converging between these two lines will result in a breakout soon.
• Trading below 1164 will be negative for the bulls. Trading above 1181 will favour the bulls.
• DOW JONES RESISTANCE LINE
  
  

Beauty of Fibonacci levels

• Look at the first chart the correction started exactly from the 50% fib level.
• For this move support are may come at 6003 or 5960 if it doesn't stop there one can also look for the trend line of the broadening pattern which may be the last hope for bulls.
• NIFTY INTRADAY UPDATE
  

Nifty Futures Intraday update

CHART-II

• Nifty Futures hits 50% Fib level as discussed below.

 CHART-I

• Nifty Futures Fibonacci levels in hour chart.
• Price is being resisted at 38.2% level.
• Breakout above this level may give a rally towards the 50% level.

RELIANCE Industries: Rising Wedge

• Reliance industries is forming a rising wedge pattern.
• Price took support at the support line of the pattern and may start moving up towards the resistance line of the pattern where it will find resistance.
• Breakdown of the support line will be negative for the stock.
• LIVE CHART FOR RELIANCE INDUSTRIES
  

Nifty daily analysis

• Nifty did manage to pull back from day's low and tried to stay above the price pivot zone of 6037 - 6075. This zone is important, trading above this zone will favour bulls and bears will try to pull price down below this zone.
• Nifty is forming a broadening top pattern. One point to note about broadening top pattern is that they are not as bearish a pattern as suggested by the name. 50% of time they breakout on the upside.
• Price managed to close above 5 day low ema and has created a hammer candlestick which can result in some upside.
• NIFTY FUTURES BROADENING PATTERN
  
  

Dow Jones near resistance area

• Dow Jones futures hour chart is showing resistance at 11100 levels.
• Index was resisted here for about 3 times before today.
• More upsides are possible only if the index breakout above 11100 levels.
• S&P 500 SUPPORT AND RESISTANCE LEVELS
  
  
  

SPY Hour in a triangle

• SPY hour is in a triangle formation.
• Breakout on either side is possible. Breakout on the upside and trading above 118.60 should be an ideal opportunity to go long.
• A downs side breakout cannot be ruled out as well.
• GOOGLE TRIANGLE BREAKOUT