CHART-II
- Up move did not last long as the trend in higher time frames are down. Price got resisted and closed near the bottom of the channel.
CHART-I
- Hour is moving up from oversold levels.
- Price is moving towards the resistance line of the channel
- for bears price should stop at the resistance line. Breaking above the resistance line may extend this up move.
- Price not able to close above 20 Day Moving average.
- Price falling below 114 will increase the risk of a breakdown for bulls.
- 110.27 is the final support before the big fall. Price taking support and closing the day above 20 Day sma may give hope for bulls.
- Indicators like MACD and Stochastic are in neutral territory because of the range.
- Nifty is in the middle of the range with both bullish and bearish possibilities.
- Price closing above 50 Day Moving average will favor bulls.
- Falling below 4900 will be negative for bulls.
- Bullish engulfing and closing above 5 day high ema Needs follow up buying as nifty is in the middle of the range.
- GOLD SUPPORT AND RESISTANCE LEVELS
- AAPL Hits 50 day moving average.
- For bears breakdown may happen below the trend line.
- If price does not violate 50 SMA we may see a bounce in favor of bulls.
- TRIANGLE OF ES
