SILVER Chart Analysis

• Silver is falling off a cliff. Hour chart looks really bad for bulls.
• Day has fallen below 20 day moving average.
• Today's candle has engulfed many candles. Closing at the lows of the day will strengthen the bears further.

SPY Support level

CHART-II

• Weekly support level mentioned in the below chart did not hold for long.
• Price violated that level and closed the day below it

CHART-I

• SPY Weekly chart shows support around 121.70 levels
• This level may hold for sometime.
• Next leg down will happen only if this level is taken out.

Head and Shoulders of United States Oil

CHART-II

• When i did this post i never believed this HNS would do this well for bears. And many readers said the same thing. And it ended up a perfect HNS pattern.

CHART-I

• USO Daily chart is showing a head and shoulders pattern.
• Knowing the reliability of Head and shoulders these day's one should be careful before shorting.
• 34.75 - 35.15 are may give support. Price closing below this level will give good gains for bears.

ES Unable to change the trend

• First chart shows the reversal attempts of ES getting rejected above 50 Hour moving average.
• Price is also getting rejected by the cloud.
• Trend will turn in favor of bulls if price is able to sustain above the cloud.
• S&P 500 ANALYSIS AFTER CLOSING BELL
  

NIFTY Intraday Update

CHART-IV

• Nifty has filled a GAP between 5330 - 5348 which was created in June when the up move from 5195 started.

CHART-III

• Support line of the wedge is broken and price has filled a GAP in chart shown in the above chart.

CHART-II

• Price continue to remain inside the wedge.
• Breaking the support line will extend correction. If price gets support here we might see an up move.

CHART-I

• Nifty spot in a falling wedge like pattern.
• Breakout above the resistance line can give good up move for bulls.
• For bears the dotted line and the support line of the wedge should be broken.

NIFTY Daily Analysis

• Nifty staying below 5 day low EMA will favor bears.
• Stochastic is showing oversold readings. But price has not shown any signs of a reversal yet.
• Candle looks like a spinning top which shows indecision and sometimes leads to reversal of current trend.
• Price closing below 5400 will strengthen bears.
• S&P 500 ANALYSIS AFTER CLOSING BELL
  

S&P 500 Analysis after closing bell

• Candlestick of the day shows strong buying @ lower levels.
• But for bears this has taken place at their backyard which is below 200 DMA.
• So this bullish reversal candle might have strength only for a retrace towards the Broken 200 DMA.
• Real strength for bulls can be seen only above 200 DMA. So retrace towards 1285 levels is likely to get resisted there.
• Price is still staying below the cloud and 50 period moving average in 30 Minutes time frame. These levels should be taken out first for continuing this bounce.