GOLD Pausing at Golden Ratio

• Weekly chart shows price pausing at golden ratio. Weekly candles did violate this level But Gold bears are unable to close the week below this level.
• for gold bulls 50 Period SMA of 4 hour time frame is acting as stiff resistance.
• So crucial levels on closing basis are 1180 and 1160. violating these levels again on CLOSING basis may trigger a bigger directional move.

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CRUDE Oil support and resistance levels

• Crude oil one hour chart shows bulls taking support at falling support line.
• Bigger fall when and if price falls below 200 Hour SMA.
• Bounce may last longer if price stays above 50 Hour SMA.

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NIFTY One hour chart analysis

 

 

• One hour chart shows price moving towards the resistance zone near 8250
• Price is moving around 200 Hour SMA.
• Between 8249 and 8285 there is an unfilled GAP which may also act as resistance.

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