November 22, 2017

APPLE Testing Month Resistance line

  • APPLE Month chart shows price testing possible resistance line.
  • Unable to close the month above this resistance line may result in a correction.
  • Levels to trigger weakness in weekly time frame is shown in second chart.

November 21, 2017

ES Support and Resistance levels before opening bell

  • 4 Hour chart shows support at 200 Period SMA.
  • Daily time frame with possible resistance at Upper bollinger band.

November 19, 2017

GOLD Weekend update

  • Gold daily trying to stay above 50 Day SMA. Last attempt to stay above this line was failed. Immediate resistance for Gold bulls are 1298 to 1308. If price sustains above this level bigger up move is possible.
  • Gold week has an Ascending triangle pattern. Another fall towards the rising support line of the pattern is possible before the big up move can happen. Resistance level for the Ascending triangle is at 1365. If the support line of the weekly pattern works well then price should visit 1365 level soon.

November 18, 2017

S&P 500 Weekend update

  • ES Week does another neutral close.  Another Doji candle suggests price likely to be Range bound for some weeks.
  • Last chart shows price in a possible Flag. Price may remain slightly bearish But if continues to stay inside the Flag another upper breakout from the flag is possible.

CRUDE Oil chart analysis

  • Crude oil 4 hour chart shows price moving back into the broken cloud.
  • Bulls trying to avoid a bearish close for the week.
  • Weekly chart shows price staying near the resistance line. Oil bulls must breakout here or face a weekly down swing.

November 16, 2017

ES Intraday update

  • ES moved back into the bullish zone
  • The Bounce from 200 Period SMA of 4 hour chart. That line was violated only for a while. The violation was only to trap more bears into believing that a real breakdown is about to happen. When enough bears are trapped Market moves up again. 
  • Immediate resistance at 2485 levels. 

ES Chart analysis before opening bell

  • ES 4 hour chart shows price moving back towards the broken moving average and Ichimoku cloud. Bears must keep price below this level to keep the weakness intact.
  • One hour chart shows a descending triangle pattern. If price moves back above the falling resistance line Bulls may regain momentum. Bears need price to fall back below the support zone highlighted in one hour chart.

NIFTY bulls find support at 50 SMA

  • NIFTY Bulls found support at 50 Day SMA.
  • One hour chart shows price moving towards the cloud. For a complete reversal price must move back above the cloud.
  • Hope for bears exist till price stay below the hourly cloud.

ES Chart analysis after closing bell

  • ES Daily closes below 20 Day SMA.  
  • Recent closes below this line did not give a smooth down swing for bears. Bears expecting it to be different this time.
  • 4 hour chart shows price testing crucial support zone. Bulls must stay above 2563 to avoid further damage.

November 15, 2017

ES Chart analysis before opening bell

  • ES testing crucial support zone and moving average
  • 4 Hour is trying to hold above 200 Period SMA.
  • Price for now is bouncing from this line. Bears will gain further momentum if price closes below this zone.

NIFTY Hour Trend update

  • Nifty one hour with cloud shows a down swing in place.
  • Last hour shows a possible inverted hammer which is bullish. But this move if it happens will be against the prevailing trend.
  • Moving averages also suggesting a strong down move in place, at least till now.

ES Chart analysis after closing bell

  • Price falling towards last week low again. 4 Hour chart too shows 2563 as a crucial price pivot zone. Closing below this zone means a close below 20 Day SMA line in daily time frame. So its crucial for bulls to protect this zone.
  • CRUDE Oil chart analysis

November 14, 2017

CRUDE Oil chart analysis

  • Recent MACD Bearish signals shown in Daily time frame. Looks like price and MACD Lines are getting ready for another bearish signal.
  • The weekly resistance line seems to be working for CL Bears at least for now. Bears need a bearish candle to confirm the effectiveness of the resistance line.

TWITTER Trend update

  • Twitter Bulls trying to move above the weekly cloud. Bulls trying to change the trend of the stock. 
  • Crucial level for bulls to stay above is 19.67. If price is able to sustain above weekly cloud then Initial target is 25 plus levels. Bears will resume below 19 levels.

ES Chart analysis before opening bell

  • ES Daily chart shown with 20 Day SMA. Bulls continue to take support at this line. Bears need to see a close this one for  a possible down swing to start. For now though Bulls in control.
  • 4 Hour chart shows a 20 point range. Weakness on closing below 2574 levels. Bulls regain control above 2584 levels. 

ES Range update

  • ES in a range needs to stay above 2584 levels to extend the bounce.
  • Earlier today 4 hour chart shows price violating the crucial moving average line again. But bulls managed to make a comeback again.
  • Weakness below 2574, Strength above 2584

November 13, 2017

ES Chart analysis before opening bell

  • ES Weekly chart shows a good start for the week for bears so far. But Bears need further followup and a close near 2562 levels or lower to complete the bearish candlestick setup. Bulls on the other hand needs to stay above 2584 levels to negate the bearish scenario.
  • 4 Hour chart shows immediate support at 2574 and 100 Period SMA. 4 Hour closing below this zone may strengthen bears further.

CRUDE Oil weekend update

  • Crude oil weekly chart shows price near the resistance line. For bears of CL needs the coming weekly candle to be a Red one to confirm weakness.
  • 4 Hour chart shows a small range. Considering the resistance line in weekly time frame a Close below the range will favour bears of CL.
  • Daily time frame with RSI shows high overbought levels.

November 12, 2017

NIFTY Weekend update

  • NIFTY Daily shows price falling towards previous resistance line which may act as support.
  • 4 Hour chart shows possible support zone at 10250.
  • One hour shows a break below the cloud. This is a possible down swing situation but for this time frame to work the bigger time frame must break the support levels discussed. Close below 10250 will add strength for bears.

November 11, 2017

ES Weekend update

  • Spinning Top is seen in weekly time frame. During an up trend this candlestick shows indecision.
  • Daily shows support at 20 Day SMA. Bears need a close below this line.
  • 2572 and 2563 levels are important for bulls to defend.