- Weekly chart of crude oil shows good recovery from 75 levels.
- Price staying above 82.88 will be safe to stay long.
- Targets for this up move are 86, 88 and 90 Levels.
- Price falling below 82.88 will favor bears of crude oil again.
- GOLD CHANNEL BREAKDOWN
- AAPL and GOOG Daily chart is trading above 50 Day Moving average.
- If this Moving average holds we might see good up move for these stocks.
- Good correction if 50 DMA gets broken on closing basis.
- GOLD CHANNEL VIOLATED
CHART-II
CHART-I
- Hour ascending channel has been violated.
- Price has to stay below 50 Hour moving average for bears to extend profits.
CHART-II (UPDATED)
CHART-I
- ES Bulls not able to stay above 50 Hour moving average.
- For a meaningful up move to happen price has to sustain above 50 Hour moving average.
- Price falling below 1103 will be a shorting opportunity.
- If 1103 is held an up move towards the channel resistance lines is possible
- Nifty hour is near 50 Hour moving average So we might see volatility increasing again
- 5 Minutes range might give us clue to which side this is going to breakout.
- 9920 Levels was acting as resistance in 2010.
- This level is giving support as of now.
- If This week candle closes above 9920 we might see decent bounce in major banking stocks.
- CNX IT Weekly chart is near it support level.
- Price has not shown any strong reversal signal yet.
- Support area is between 5400 - 5500 We have an important Fib level support too in this area.
- If this level breaks on weekly closing basis then it will be negative for IT stocks like Infosys and TCS.
- GOLD TRIANGLE UPDATE
- BANK NIFTY CHART
UPDATED CHART FROM BELOW
- GOLD reached $1800 after its triangle breakout mentioned in the below chart
- Hourly triangle pattern of GOLD.
- Breakout on the upside will extend gains.
- Break of support line may give 1718 levels.
