DOW JONES SPOT CHART
DOW FUTURES
Dow Jones spot chart is showing a pin bar reversal candle.
Dow Futures daily chart is showing a Bearish engulfing.
Both very effective when comes at the top of the trend.
PIN BAR OF BIDU in weekly chart is doing well so far.
SLV Daily is testing its 20 day moving average.
Price closing below this level will favor bears. Last time price did make a good up move from this moving average. But for now bears seems to be having good momentum.
Hour chart is trading below 50 Hour moving average and support area between 43.60 - 43.80 is broken now. Bulls shall try to stay above 44 for pushing prices higher again. For bulls day should also close above 20 DMA.
ES Hour chart is trending down below 50 hour moving average.
Main support level in hour chart is between 1348 - 1350 level.
Sustaining below this level may bring ES down to its 200 Hour moving average which is near 1343 level.
CHART-II
Nifty has clearly broken the first trend line and closed near day's low.
It seems price is moving below 5500 and towards the blue Trend line.
CHART-I
Nifty four hour chart with important trend lines that can stop the bears.
Break of red line will be negative and price may start moving towards the blue line.
A pull back can be seen only if the day closes above the red trend line
Nifty has multiple support at around 5620 - 5630 level.
50 DMA near 5630 area and 38.2% Fib level @ 5620.
If bears are stronger they will manage to close below these levels. Then Nifty may start moving towards 5450 level.
Getting support at the above mentioned level can turn nifty towards 5750 level again.
Russel 2000 gave a breakout from 855 levels Last week
Now price is retesting the breakout level.
If price sustains above 855 we will see a bigger up move.
Day closing below 855 will be negative.
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