August 29, 2013

GOLD Chart analysis

  • Gold one hour chart shows support at 38.2% Fib level
  • Immediate resistance at 50 Hour SMA.
  • 30 Minutes chart shows a bullish falling wedge pattern.

ES Support and Resistance levels

  • 50 Hour SMA is the immediate resistance level shown in One hour time frame. Closing above this level may give a decent bounce for ES Bulls.
  • Crucial supports are shown in daily charts. 50% Fib level and Cloud Base is getting tested. Daily close below these levels may extend gains for ES Bears. Taking support at these levels should result in a bounce.
  • GOLD Support and Resistance levels
  • SILVER Chart update