- Silver weekly chart shows price contraction in a triangle pattern. Price likely to remain in this pattern for some more weeks. If price gets resisted at the falling resistance line then the sideways move may continue for some months before silver can start to trend again.
- Last chart shows crucial numbers in weekly chart.
January 20, 2018
January 18, 2018
- Crude oil is developing a broadening wedge in 4 hour time frame.
- Second chart shows price right at the apex, a Breakout or breakdown is imminent from the contraction
- Breakdown if happens must stay below 50 SMA for bigger falls to follow. Staying above this moving average the up move likely to continue.
January 17, 2018
- Crude oil 4 hour chart resting on crucial moving average.
- second chart shows price at rising trend line.
- More weakness on closing below the moving average. Crude bulls must stay above the trend line and moving average to avoid a bigger down swing.
- NIFTY Daily and Week is testing the resistance line. Bears need the bearish engulfing in daily chart to take effect. Weekly chart is more crucial. A bearish bearish weekly candle here will strengthen bears.
- Bulls need to save the weekly candle to stop a down swing from happening.
- 10680 and 10660 are possible supports in Nifty. If these levels are broken on daily closing basis then bigger down swing may follow.
January 16, 2018
January 15, 2018
- Two gold charts of Weekly time frame shows price nearing crucial resistance zone. Second chart shows the resistance line drawn from Middle of Year 2013. Since its a long term pattern a breakout or breakdown from this will be significant for Gold. Price is nearing the apex of the pattern. If the resistance line stops the up move then price is likely to remain in this pattern for some more months Before a breakout or breakdown can happen. Resistance zone is around 1360 levels.
January 13, 2018
- Weekly chart shows the hope and despair of bears. Bears are shown hope in those circles only to be batted by bulls.
- Month chart shows one of the biggest gains in more then a year. And Month is only Half done.
- The Hour chart shows the cloud base in action. Weakness in Hour was arrested at the cloud base followed by a good long trade.
January 11, 2018
- TESLA Daily chart shows a triangle shaped contraction.
- Month chart shows bullish candlestick formation with crucial long term support at 291 levels.
- Since Month is favouring bulls a bullish breakout from the Triangle is likely to be a safe trade. If price falls below 305 then stock can fall towards 292 levels. Above 347 stock can move towards 360 and 380 levels.
January 10, 2018
- 30 Minutes trend has snapped.
- 60 Minutes cloud base is giving support for now. For bears the cloud base must break for bigger gains to follow.
- Daily time frame is looking good so far for bears. Day need to close like this to confirm weakness.
January 9, 2018
- Nifty broke through the ceiling once again and is likely to make another swing high in one or 2 weeks time.
- MACD Shows triple negative divergence.
- If the resistance line drawn in last chart works the negative divergence can start working. One has to note this is a likely scenario against the prevailing strong up trend.
January 8, 2018
- ES 30 Minutes chart continues to favour bulls.
- Price needs to close below the cloud in this time frame to confirm weakness.
- Bears are seeing price falling below Middle bollinger band in One hour time frame. Staying below this line may lead to bigger weakness.
January 5, 2018
January 3, 2018
- One of the readers sent me a query on the Rising wedge of IWM in the month time frame.
- Although it has been 3 Months outside the pattern this can still become a False breakout. Bears doesn't want to see new high's though. False breakout on this time frame can only be confirmed on price breaking below 143 levels.
- Crude oil one hour cloud continues to act as support. Trending move will continue till price stay above the cloud.
- Hour with MACD is showing negative divergence.
- An Hourly sell looks possible from resistance line around 61 levels for the Negative divergence.