November 21, 2017
November 19, 2017
- 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
- 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.
November 16, 2017
- 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 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.
November 15, 2017
- 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.
- 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
- 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.
November 13, 2017
- 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 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 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.