November 29, 2015

 

  • Lest start with the weekly bullish divergence which is the only positive thing seen in chart for bulls. But for this to work well price need to move and sustain above 200 SMA. Daily chart clearly shows a bearish channel, Price need to move out of the channel for bulls to gain some momentum.



November 27, 2015

  • Triangle discussed in previous post is working well for gold bears. For deeper falls price need to sustain below the broken support zone.




  • One hour chart shows a well formed triangle pattern. Price is near crucial support and resistance levels as shown in daily and 4 hour charts. Breakout or breakdown from triangle may give good direction for Gold.
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November 24, 2015


  • Nifty is testing its 100 week sma. Last time price did give a bounce from this line as shown in first chart. 
  • Although daily MACD Looks good for bulls, price need to sustain above 7900 levels for strength. 8050 is another strong resistance zone. Weakness if price starts to trade below 7690 levels on daily closing basis.



November 20, 2015

  • Gold daily and week charts shows bulls barely holding on to the support levels. 4 Hour cloud is acting as stiff resistance as price tries to move up. Bears need a weekly close below the support levels.




November 19, 2015

  • Silver week trying to hold above support zone.
  • Daily chart too shows price trying to stay above recent swing low.
  • More strength if price able to sustain above 4 hour cloud. Unable to move above cloud may result in crucial technical breakdown.




November 18, 2015

 
  • ES although testing resistance levels price is trying to form a cup and saucer kind of pattern in 4 hour chart which is bullish.  
  • Bulls need price to move above the yellow shaded zone for extending the up move.



November 17, 2015



  • ES 4 hour chart shows price nearing possible resistance levels. Weakness here may resume the fall.


November 15, 2015



  • Month chart shows bearish April month candle at the top followed by a correction. Now September month candle is a possible bullish one But if price falls below 107 levels bears will gain momentum again. 
  • Week chart shows a  bearish head and shoulders patter. Daily has a death cross and price has closed below 50 day SMA.


November 14, 2015

  • One hour chart shows price below cloud. Daily chart shows price testing crucial swing low. A reversal in daily chart can be first seen in Hourly chart if price starts to trade above the cloud.
  • Week shows price making new lows. Twice in the recent past price did give a bounce from the swing lows before making new lows, 


November 12, 2015

  • Silver one hour chart shows a trending move. Week and Month chart shows price testing crucial support zone. Reversal if happens will be seen first in one hour chart. Silver bulls need price to move above hourly cloud first, Price if unable to move above hourly cloud will result in another technical breakdown in Silver.






  • ES 4 hour chart shows a head and shoulders pattern near resistance zone. Price is showing weakness at daily resistance zone. Bears need price to sustain below the 4 Hour cloud to extend weakness.
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November 10, 2015


  • Apple weekly chart shows price trying to put up the right should of a head and shoulders pattern.
  • Daily chart unable to sustain above 200 day sma.
  • Last chart shows weekly getting resisted at cloud top. Apple bears need a weekly close below the cloud.



November 9, 2015

 
 
  • ES daily at resistance zone.
  • 4 Hour chart shows price testing crucial support levels. Bears need a close below 4 Hour cloud.

November 6, 2015



  • Gold one hour chart shows trending down move. Daily chart shows price testing recent swing low. Weekly chart shows a bounce from the crucial swing lows before new lows gets formed so a small bounce cannot be ruled out before multi year lows gets formed.


November 5, 2015

 
  • 2nd chart shows price testing the rising support line in 50 period SMA. Bears need to stay below this line so that the daily resistance zone starts to show its effects. 4 Hour MACD too shows a negative divergence for bears. Now price need to follow up by breaking the higher low structure so that the negative divergence starts to take effect.


November 4, 2015


  • ES bulls riding strong above the cloud. Immediate rising support of 50 period SMA is also not being challenged. Unless the higher low higher high structure gets changed bears are not going to get bigger corrections.



Disclaimer

All the contents of niftychartsandpatterns are for educational purposes only and are not Investment Advice or recommendations offered to any person(s) with respect to the purchase or sale of the stocks / futures. Niftychartsandpatterns shall not be held responsible for the actions of individuals, parties, or corporations taken in response to the ideas, thoughts, concepts or information presented in this blog. Hence all the visitors are requested to apply their prudence and consult their financial or investment adviser before acting on any of the Ideas in this blog.

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My Favourite Quote

"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