February 20, 2016

  • ES Daily chart shows a resistance line and 50 Day SMA stopping bulls from moving up. Bulls need a daily close above these levels for a bigger up move to happen.
  • Immediate support at hourly cloud. Further weakness if price stays below Hourly cloud.
  • GOLD Week moves above the cloud. Price was last seen above weekly cloud back in 2012. Price also has broken above the falling resistance line connecting major swing high's during this down trend. 
  • 1300 levels may act as stiff resistance if price manage to extend this bounce. Immediate support near 1180 levels. Weakness if price falls below this level. 


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.


Blog Archive

Powered by Blogger.

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