October 31, 2014


  • Week and Day shows price violating crucial support levels.
  • Month chart is testing a crucial long term trend line. If this one too goes on closing basis then gold is likely to see bigger falls.



 

  • While the weekly and Daily Medium term signals looks good for bears, Bulls may get a bounce from the Golden ratio and the GAP Fading as shown in chart 2 and 3.
  • Bears need the weekly candle to close at the lows today. Yesterday's Doji candle may spoil a perfect bearish weekly candle though.



  • Reliance industries heading into a resistance line and daily cloud.
  • Price need to sustain above 50 day sma to extend this up move.
  • Clearing 1010 - 1015 levels on closing basis may give bigger up moves. Weakness at the resistance line may lead to a correction
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  • Silver daily getting resisted near 50 Day SMA
  • Hour chart shows a range breakdown.
  • sometimes before a big reversal a false spike below the recent low is possible. If daily does not give a lower close there is hope for silver bulls. But for now it remains a hope for those who were long.
  • All major time frames remain in favor of bears.
  • SILVER TREND UPDATE
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October 30, 2014

  • For the very short term One hour time frame has given support.
  • Daily though is acting as resistance. Price need to stay above the daily cloud for extending the up move.
  • Weekly chart shows price acting as support for the recent correction.




 
 
  • Gold Bounce in daily time frame was limited to the Ichimoku cloud.
  • Now price is testing the crucial support zone shown in weekly chart.
  • If the basing formation continues another bounce is possible. Gold bears need a weekly close below this zone for bigger breakdowns to follow.

October 29, 2014

 
  • Hourly chart continues its trending move above the Ichimoku cloud.
  • Price is staying above 50 Day SMA.
  • Hope for bears in the Resistance levels shown in first chart. Weakness here may lead to a correction. But first Hour chart needs to break below the cloud for a possible bearish trade to happen.

 

  • Weekly and Daily are testing resistance lines. But no alarms for Bulls yet as price is not showing weakness.
  • Positional support for BN is around 16220 - 16260 region and the GAP as shown in second chart.
  • Daily MACD is showing negative divergence. But both MACD and Price yet to show sell signals.
  • CRUDE OIL MONTHLY Chart analysis
  • SILVER TREND UPDATE
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October 28, 2014

 
  • The Month time frame is shown with Fibonacci levels. It shows a broad range between 38.2% and Golden ratio. So this is roughly between 74 - 77 to 103 - 112. Price right now is testing the bottom of this range.
  • Second chart is the weekly time frame with possible support levels.
  • Ichimoku cloud of Daily Time Frame will act as shield for Crude oil bears.
  • 4 Hour time frame shows a bearish Descending triangle pattern. Mostly acts as a trend continuation pattern. 
  • Crude oil bulls must hope for a Basing formation around 74 - 77 for a possible up move to happen.
  • EURUSD Trend Update
  • SILVER TREND UPDATE
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  • ES Higher time frames are showing price at a crucial support resistance zone.
  • Hourly charts are showing a nice trending move favoring bulls, That may end if the daily TF Fails to make a bullish close above 50 Day SMA. First chart also shows price testing a crucial support resistance zone.
  • For the very short term price must stay above the Hourly cloud for bulls to extend this up move.
  • EURUSD Trend Update


October 27, 2014

  • Silver Month week and Day time frames shows strong down trend.
  • Daily time frame will continue to favor bears as it stays below 50 and 200 Day SMA.
  • GOLD WEEKLY SUPPORT ZONE
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  • First chart shows the Monthly time frame which is near a support band between 1.20 - 1.25.
  • Weekly chart shows a Bearish flag breakdown with possible target of 1.20 levels. Weekly close below 1.20 will further extend the down trend.
  • Daily chart too shows the Ichimoku cloud as strong resistance. Any possible bounce only on price staying above the cloud.



October 14, 2014

  • Gold Weekly chart shows price trying to find support near the 1180 levels. 
  • Daily chart is yet to clear 50 Day SMA. Unable to move above this level and 200 SMA may lead to further falls.
  • 4 Hour and One hour charts are trying to stay above the cloud. Price staying above 4 Hour cloud will give hope for Gold bulls.



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"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore