MCX CRUDE OIL Chart update

• Crude oil falling towards the support line of the rising wedge.
• Price is correcting from the golden ratio.
• Trading below 20 Day SMA and 93.22 levels would extend correction.

GOOGLE Chart update

 

• GOOGLE Daily and Weekly charts shows overbought indicators and sell signals.
• Daily trend line break may start a correction.
• Correction from weekly resistance line may give a bigger fall for google bears.
• ES CHART ANALYSIS

S&P 500 Futures Hour chart analysis

 

• ES Hour chart with resistance level and Fibonacci levels which may act as resistance.
• Price sustaining above 200 Hour SMA will favor bulls. Price breaking above 80% retrace level will strengthen bulls further.
• Bears need a fall from 61.8% - 78.6% Fib zone to avoid a bigger up move.
• S&P 500 WEEKEND UPDATE

BANK Nifty Chart analysis

• Bank nifty has fallen below a triangle pattern and 50 day SMA.
• If price sustains below50 Day SMA It could continue the down move towards 38.2% Fib level as shown in 2nd chart.
• Hope for bulls of BN if the index starts to trade above 20 Day SMA. Above 20 Sma the resistance line shown in last chart may come into play.
• Immediate support levels too shown in last chart.
• NIFTY WEEKEND UPDATE
• RELIANCE CHART ANALYSIS

RELIANCE Chart analysis

• Reliance Industries Weekly stochastic shows price nearing a sell signal.
• Price yet to confirm a sell by closing below crucial moving averages. 
• Daily closing below 20 SMA and a weekly close below 50 Week SMA will add strength to this weekly sell signal. 
• If bulls manage to sustain above 50 Week SMA on closing basis we may see the resumption of the current up move.
• NIFTY WEEKEND UPDATE