- Daily continues to show strong trend in favour of USDJPY Bears.
- 2nd chart with down trend line shows new lows being created.
- 4 Hour chart shows immediate support line or possible breakdown level. Fall below this line may trigger another correction for USDJPY.
- CUP and HANDLE and TRIANGLE of GOLD
My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
August 12, 2016
USDJPY Trend update
TRIANGLE and CUP and HANDLE patterns of GOLD
- First chart shows Gold 4 Hour in a triangle.
- 4 Hour chart also shows the triangle as the Handle of a Larger CUP and HANDLE Pattern. This pattern mostly moves in favour of Bulls.
- If price stays for another week inside the triangle then bigger moves are possible out of the triangle.
- CRUDE OIL SUPPORT AND RESISTANCE
CRUDE Oil support and resistance levels
- Weakness in one hour if price starts to sustain below 43.35 levels.
- Resistance in 4 hour chart at golden ratio. For bigger up moves price must move above this level which is around 43.92 levels.
- ES Analysis before opening bell
S&P 500 Futures chart analysis
- First chart shows price near resistance line. ES Bulls must do a breakout above 2186 levels for a bigger up move to happen.
- Possible support levels if price starts to fall are 2174 and 2186 levels.
- CRUDE OIL CHART UPDATE
NIFTY Morning Update
- Daily chart shows a possible rising support line. Confirmation of weakness on daily close below this line.
- Price is testing 20 Day SMA on its way up. More strength for bulls if daily sustains above 20 SMA.
- Month candle so far is giving hope for bears. But those hopes will fade away once and if price starts to trade above last month high which is 8674.
- CRUDE OIL CHART UPDATE
Subscribe to:
Posts (Atom)