- Crude oil four hour chart shows price correction towards the support line.
- Price has got resisted at the 200 Hour moving average of four hour time frame.
- If price gets support at the trend line then an up move will be possible only on a breakout above the moving average shown in the second chart.
- GOLD RANGE BREAKOUT
- Range of gold shown in yesterdays post has given a breakout.
- Price now will target the all time high made last month.
- EURUSD showing bearish price action.
- US dollar is showing bullish price action.
- If this move sustains then its no good news for stock markets.
- IF 50 period moving average of four hour time frame gives support we may see an up move from this level.
- If candles starts to close below this moving average then ES may move towards the black trend line.
- For bulls of reliance the resistance band in daily chart is between 812 - 828 level.
- For price to change its bearish structure day candle has to close above 828.
- Getting resisted at 828 levels will be negative for the bulls of reliance.
- Nifty is running into resistance levels.
- 20 Day SMA acts as strong resistance during a down move. If price manage to cross that then nifty has to cross 38.2% Fib levels.
- Daily indicators are triggering a Buy, Weekly indicators have also started to turn up, But price has to follow up for bulls to make gains.
- GOLD IN A RANGE
- S&P 500 ANALYSIS AFTER CLOSING BELL
- A combination of Fibonacci levels and Weekly resistance levels managed to stop the bulls for now.
- But i doubt if this one has the strength to break the recent lows.
- If price does not break the recent lows then as mentioned in the last chart a retrace towards the broken wedge support line is possible.
- Breaking below 1101 will negate such a possibility
- SPX CORRECTION FROM RESISTANCE LINE
