July 28, 2015
July 27, 2015
July 26, 2015
July 24, 2015
- Immediate support for bank nifty at 20 Day SMA. Bears need a close below this level for bigger falls to start. Daily MACD is also suggesting weakness but price need to stay below 18600 levels.
- Weekly cloud continue to act as support. bigger weakness only on price closing into the weekly cloud.
July 23, 2015
July 22, 2015
July 21, 2015
- First chart shows how bulls avoided a Death cross from happening with a powerful reversal from 17174 level. This up move is still intact but price is showing signs of weakness which is not confirmed yet. Weakness is seen at the Golden ratio along with negative divergence in MACD Histogram.
- Bears need a daily close below 18860 levels for a possible extension of weakness.
July 20, 2015
- Last chart shown with the MACD Histogram shows Developing negative divergence. Price also near the Golden ratio for the fall from 9119 levels to 7940. First chart shows price hanging around a possible support resistance zone. So the current levels are crucial Break above it may give bigger up moves. More weakness here may result in correction towards 8300 and 8200 levels.
July 17, 2015
July 16, 2015
July 15, 2015
- Gold one hour chart shows triangle breakdown.
- Weekly is testing crucial support levels as shown in chart 2 and 3. Gold bears need a lower close for the weekly candle for bigger falls to happen. Good up move possible if price finds support at the current levels.
- GOLD Hourly Triangle