January 9, 2017

  • Gold 4 hour chart is testing another resistance zone at 1180.
  • Weekly resistance is near 1200. This zone was previous support which may act as resistance now.
  • Weakness if price falls back below 1170 levels. Bigger up move possible only if price is able to sustain above 1200 zone.

  • Crude oil is falling towards crucial support levels.
  • Bigger weakness only if price falls below 52 and 200 period SMA.

  • Crude oil weekly chart shows previous resistance line acting as crucial support. As long as this line holds there is no threat of a bigger correction.
  • 4 Hour chart is shown with immediate support and resistance numbers.


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.


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