SILVER Looks weak

• Silver has broken its support at 28.
• Price has also broken below the trend line in daily chart.
• Price sustaining below 28.06 will make it weaker and correction will become deeper.
• Price getting back above 28.06 may help the bulls of silver.

EURUSD Resistance level

• EURUSD Daily chart with resistance level and stochastic indicator.
• Pair staying below 1.3430 will make eurusd weak.
• Stochastic is showing overbought levels. If the pair sustains below 1.3430 we may see the pair getting weaker.
• S&P 500 FUTURES BEARISH ENGULFING PATTERN
  
  

Bearish Engulfing in S&P 500 Futures

BEARISH ENGULFING

TREND LINE SUPPORT

• ES has formed a bearish engulfing pattern in its daily chart.
• Now Bears should try to break the trend line drawn in daily chart for extending their gains.
• Getting support on the trend line will give hope for the bulls to extend the primary trend.

Nifty Futures intraday update

• Nifty Futures hour chart is showing a descending triangle
• This pattern is a bearish one
• But considering the oversold status of nifty this may breakout on the upside too.
• One has to wait till price break the resistance or support line for taking a trade.

CNX- IT Weely Trend line analysis

• CNX IT continue to trade above the weekly trend line.
• Front line it stocks like Infosys will continue to remain in up trend unless this trend line gets broken.

Nifty Daily analysis

• Day closing yesterday was above day low ema.
• If nifty close below 5 day low ema again we may test the 200 dma and break it.
• Fibonacci levels for the rise from 5350 to the recent high shows price breaking the golden ratio and is in between 78.6% and the golden ratio.
• If price does not go above 61.8% soon nifty will test 5560 levels which is the 78.6%
• Having said that stochastic and  MACD in daily time frame is hinting of a reversal any time.