July 15, 2016

  • The triangles discussed earlier in 4 hour and one hour are yet to resolve. Volatility is likely to increase when price moves out of the triangle.

  • Trend line violation shows weakness in one hour time frame. Bears need price to sustain below one hour cloud for bigger correction to happen.

  • Gold 30 Minutes chart shows a strong down move in place. 1320 and 1310 are crucial levels for gold bulls to hold above. Bigger weakness if price starts to trade below 1310 levels. 
  • Silver trying to stay above 4 hour cloud which will help silver bulls to extend this up move. Weakness only if price moves or closes below the cloud.
  • Weekly chart is approaching stiff resistance zone. 21.50 - 70 levels are previous resistance zone in this time frame. Price likely to consolidate below this level. For a bigger move on silver price must close above this zone.


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