June 30, 2016
June 29, 2016
June 28, 2016
June 27, 2016
- Apple Month chart shows a Descending triangle kind of Price contraction. This pattern will be effective only if the long term trend line shown in month chart gets broken. Till the trend line stays apple bulls are safe.
- For the short term strength for bulls only if price moves back above 50 Day SMA
- SPX WEEKEND UPDATE
June 26, 2016
- Gold weekly chart shows price trying to move out of a broadening pattern. Price need to stay above 1325 levels for another attempt to breakout of this pattern.
- Month chart shows price moving into strong resistance zone between 1340 - 1350. A Bigger breakout in Gold only if this monthly resistance zone is cleared.
- SPX WEEKEND UPDATE
- Crude oil Daily chart continues to trade above 50 Day SMA. Hope of a bigger fall for crude oil bears only if price starts to close below this line.
- Price in weekly is trading in a 6 Point range between 45 levels and 51 plus levels. This range must be resolved on closing basis for bigger action to happen.
- Weekly chart shows a bearish PIN BAR. 2 bearish candles followed the PIN BAR Keeping the bearishness of the candlestick pattern intact. For bigger falls price has to trade below 45 levels.
- SPX WEEKEND UPDATE
June 25, 2016
- SPX Daily chart shows price testing crucial moving averages. Further weakness if price starts to trade below these levels.
- 2020 - 2030 is a crucial support zone. Weekly close below these levels may further weaken SPX Bulls.
- Month chart shows Bearish upper shadows for Month candles. Upper shadows shows price unable to close the month above 2100 levels. Unless this happen a bigger breakout is not possible.
- Nifty's bulls manage to stay above the rising support line drawn from 7405 levels.
- There was an intraday violation of 50 Day SMA line. But bulls manage to close above this crucial moving average. No big weakness till price stays above these two levels.
- Month chart for now shows a pause after 3 Bullish candles. Month has one more trading week to go so bulls need to close back above 8200 levels to keep the bullish momentum intact.
June 24, 2016
- GBP/USD Month time frame shown from the Lows made in 1993.
- Price touched the support line in 1993, 2001, 2009 and Now in 2016.
- Breaking this support line can lead to long term weakness for the pair.
- Pattern also looks like a Multi-Year Head and shoulders pattern. If the Support line holds these scenarios does not come into play.
June 21, 2016
June 20, 2016
- Crude oil 50 Chart trying to stay above 50 Day SMA. Weakness returns only if price closes below 50 SMA.
- Weekly chart shows a contraction between the upper resistance zone of 50 - 51 and the rising support line. This contraction should lead to a bigger move soon.
- 4 Hour chart shows possible resistance zone.
June 17, 2016
- Crude oil daily chart getting support at 50 Day SMA for now.
- Weekly bearish setup remains intact. The bearish inverted hammer is followed by another bearish candle.
- One hour cloud is getting tested. Price if remains below it may be followed by another wave of selling. If price manage to close above the cloud a bigger bounce from 50 SMA can be seen.
June 15, 2016
- ES Weekly chart shows price unable to stay in the resistance zone.
- Month chart too shows another failed attempt to stay above 2100 levels by bulls. The monthly bearish upper shadow is likely to form again provided bulls do not put up another up move which moves past 2100 levels again.
- Hour chart shows a bounce. Bulls need to stay above 2072 and the hourly cloud for a bigger bounce to follow.
- CRUDE OIL BEARISH WEEKLY CANDLE
- Crude oil weekly chart shows a possible inverted hammer or shooting start which can give good gains for Crude oil bears. More confirmation with price action is needed to confirm the bearishness of the candle.
- Next level of defence for crude bulls is between 47 and 47.50. One hour chart shows price trying to trend below the cloud. If price continues to stay below hourly cloud the support levels may not held and a bigger correction in crude oil prices is likely to be seen.