March 12, 2018

ES Daily Fibs and Upper bollinger bands | 30 Minutes cloud support

  • ES Daily time frame shows price pausing at the 78.6% Retrace level and the upper Bollinger band. These 2 levels may act as resistance.
  • For bulls the 30 Minutes cloud is acting as support. For the bearish set up discussed above to work they need to break below the cloud. For now though bulls trying to do a lift off from the 30 Minutes cloud.
  • SILVER Multi Year support line and weekly triangle

NIFTY Reversal from 200 SMA | Daily cloud and Bollinger band

  • Nifty bulls found enough velocity to move away from 200 SMA. But price is approaching crucial resistance zone between 50 and 100 SMA.
  • Nifty weekly chart shows Middle bollinger band at 10483. This is the next resistance zone for nifty bulls to close above. Weekly close above this zone may confirm strength. An intra week violation is not enough...
  • GOLD Support zone and Rounding Top

SILVER Weekly triangle | Multi-Year support line and H&S

  • Silver weekly chart shows a bearish descending triangle. But one look at the Month candle shows price near the Multi year support line. So a breakdown from the triangle could end up as a false one and price may take support at the Monthly support line.
  • One other view is very bearish. Month chart is showing a Head and Shoulders pattern starting at Year 2005 to 2018. So a breakdown from this pattern may lead to a melt down in silver prices.
  • GOLD Support zone and Rounding Top