December 29, 2016


  • Gold bulls trying to move above 100 Period SMA and Cloud In 4 Hour chart after a Long GAP. 
  • Gold Bulls can gain more strength only above 1152 and 1167 levels for a bigger bounce to follow.
  • Weakness resumes below 1136.
-->
  • Hourly price structure looks bullish and will stay bullish only till price stay above 8021 levels. Moment price breaks below 8021 Bulls become weak with a chance to retest the recent lows again.
  • Break above 8100 and 200 Hour SMA will strengthen bulls further.
  • 15 Minutes is also stuck between 8021 and 8100
-->

  • Daily chart shows 20 Day SMA as immediate resistance. If Bulls able to close above 20 then 8274 and the falling resistance line shown in chart 1 will act as resistance BUT The bounce is already loosing momentum. Bulls need a close above 8100 to extend this bounce further. More weakness if Price starts to trade below 8000 levels.
  • NIFTY support levels
-->

Disclaimer

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.

Followers

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