- ES Hour chart has given a breakout from a broadening formation.
- A right angled descending broadening pattern.
- According to the rules of the pattern we may get about 10 points in ES from the area of breakout for this pattern.
- But price has to close and sustain above 1284.25. Dipping below this level will be negative.
- BEARISH ENGULFING IN SILVER
January 14, 2011
- The weekly chart on closing basis looks interesting as the line which acted as resistance previously may give support to the index. But a breakdown also looks possible which will be followed by good correction.
- 5750 level in daily chart has been holding on closing basis, this level too is getting tested too many times.
- US DOLLAR AND EURUSD CHARTS
- SILVER BEARISH ENGULFING
All the contents of niftychartsandpatterns are for educational purposes only and are not Investment Advice or recommendations offered to any person(s) with respect to the purchase or sale of the stocks / futures. Niftychartsandpatterns shall not be held responsible for the actions of individuals, parties, or corporations taken in response to the ideas, thoughts, concepts or information presented in this blog. Hence all the visitors are requested to apply their prudence and consult their financial or investment adviser before acting on any of the Ideas in this blog.