January 20, 2018

SILVER Weekend update

  • 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 18, 2018

CRUDE Oil broadening Wedge

  • 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 chart analysis

  • 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.

ES One hour cloud update

  • ES One hour chart shows another bounce from cloud base.
  • One hour right now is at a crucial zone. Price may either reverse from here or it can test the high's again.

NIFTY Chart Analysis

  • 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

ES Hour chart analysis

  • ES 30 Minutes and one hour continues to favour bulls.
  • No signs of weakness until price stays above 30 Minutes cloud.

January 15, 2018

GOLD Nearing Resistance zone

  • 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

ES Weekend update

  • 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 Triangle and Month Support zone

  • 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

ES Chart analysis before opening bell

  • 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. 

ES Chart analysis after closing bell

  • Daily candle with its upper shadow is showing some weakness But the trend in 30 Minutes and one hour is yet to snap. Bigger gains for bears only if the trend supporting cloud and moving average gets broken. 

January 9, 2018

NIFTY Weekly Chart Analysis

  • 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

CRUDE Oil Week and Month Chart analysis

  • Crude oil week nearing previous resistance zone around 63 levels.
  • Month chart shows the falling resistance line from 147 levels. If crude bulls manage to stay above 63 levels then the Up move may extend towards the Falling resistance line. But this may take some more months to materialise. 

ES 30 Minutes and One hour charts

  • 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

GOLD Trend update

  • Gold week shows higher high's
  • Month has a Bullish Ascending triangle pattern.
  • Target for the current up move is around 1370 levels.
  • Price may take some more months to resolve from this pattern. Pattern mostly favours bulls.

January 3, 2018

IWM Month Staying on the Wrong side

  • 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 Chart Analysis

  • 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.