January 4, 2017

  • Crude oil week testing the broken resistance. Crude bulls need this line to act as support. Weekly close below this line is negative for crude bulls.
  • Daily chart shows price at 20 Day SMA. Closing below this line too is bearish for crude.
  • 4 Hour time frame shows crucial price zone at 52.09. Further bearishness if price sustain below this zone.
  • CRUDE Oil False breakout
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  • Gold weekly chart shows a possible up swing starting. Possible target of broken support 1200 if the up swing sustains.
  • Up Swing will stay effective till price stay above 4 Hour cloud.
  • Immediate resistance at 1167. If sustain above 1167 price may target 1180 levels next.
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  • Rising support resistance line shown in first chart is crucial. if bulls are able to sustain above this line then price may test 2269 and Higher levels.
  • below 50 Period SMA bulls become weak and another fall towards 200 Period SMA is likely.
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  • Nifty Bulls in short term chart trying to stay above the cloud. 
  • Intraday strength above 8218 and 8228 levels
  • Weakness below 8180 and 8175 levels.
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  • Nifty bulls needs to stay above 8228 levels to test 8274 and higher levels. Above 8274 Bulls would've crossed all crucial moving averages in Daily time frame.
  • Levels for Bears are 8234 and 200 Hour SMA which is at 8125 approx. Weakness on closing below these levels.
  • GOLD Support levels
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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