November 23, 2016

  • Gold one hour chart shows range breakdown.
  • Weekly charts are approaching crucial support levels.
  • Weekly cloud and Golden ratio at 1171 are crucial support levels.
  • GOLD Weekend update

  • ES one hour chart shows price testing 50 Hour SMA. Rising 100 Hour SMA is the crucial support line for this time frame.
  • Hour will stay strong for bulls till price stay above the rising trend lines.
  • Crucial numbers for this time frame is 2191 and 2185

  • Crucial support for the Bullish trend in weekly chart are shown in chart 1 and 2. Price near 50% Retrace level. Golden ratio at 7640 and the Weekly cloud combined is a big support zone for bulls to hold above.
  • Nifty looks like its trying to form a range below 200 SMA. This could wait for 50 Day SMA to move towards the price and then further breakdown can happen. Or since price has moved far away from 50 SMA a bounce towards 50 SMA is also possible. In any case for bears to extend current gains they have to move away from 200 SMA. 


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