GOLD Hour chart Analysis

• Gold four hour chart shows a bullish ascending triangle formation.
• One should also note that pattern is being formed after a big fall. So this consolidation may lead to a continuation of the previous fall.
• For bulls price should sustain above 100 Hour SMA.
• Sustaining below 100 hour SMA will favor bears.

S&P 500 at 50 SMA

• SPX Went near 50 SMA and started correcting.
• A bearish candle @ 50 SMA is the combination bears have been waiting for.
• Unable to close above 50 SMA will favor bears.
• For bulls There is time till closing bell to make a positive close above 50 day SMA.

ES Daily chart Analysis

• Price is staying above its 50 Day simple moving average.
• Daily candle is about to test an important resistance line.
• Bulls seems to have the advantage especially the way price has moved up in a short period of time. So they should have enough momentum to break above the resistance line.

NIFTY Fibonacci level

• Nifty Weekly chart with fibonacci levels.
• Price is moving around the 38.2% Fib level.
• weekly closing above 4774 may help bulls for sometime.