- First chart of Intel shows the bearish engulfing patterns in daily chart and the support the stock is getting from the 200 day moving average. This pattern needs confirmation and for big correction to happen price needs to break 200 DMA.
- Price has been hanging on to the 50 Day moving average for sometime now. Stock has shown negative price action again at 50 day moving average. Important support in daily chart is 20.27 and main resistance for this time frame is 21.42.
- Fibonacci levels in weekly chart is showing price getting stuck near 50% Fib level. Earlier price gave a bearish engulfing in weekly chart at the 61.% Retrace level.
- SILVER BEARISH ENGULFING
- DOW JONES RISING WEDGE
- Rising wedge formation in 30 minutes chart.
- Rising wedge is a bearish reversal pattern
- Pattern looks perfect if works according to the rules we may see good correction from this pattern.
- ES BREAKOUT OF BROADENING PATTERN
- ES Hour chart has given a breakout from a broadening formation.
- A right angled descending broadening pattern.
- According to the rules of the pattern we may get about 10 points in ES from the area of breakout for this pattern.
- But price has to close and sustain above 1284.25. Dipping below this level will be negative.
- BEARISH ENGULFING IN SILVER
- ES Hour chart is showing a band of support from 1172.50 to 1175.50
- This area acted as resistance before So a fall to this level may give a long opportunity.
- Price closing and sustaining below this level will favour bears.
- SILVER BEARISH ENGULFING
- The weekly chart on closing basis looks interesting as the line which acted as resistance previously may give support to the index. But a breakdown also looks possible which will be followed by good correction.
- 5750 level in daily chart has been holding on closing basis, this level too is getting tested too many times.
- US DOLLAR AND EURUSD CHARTS
- SILVER BEARISH ENGULFING
EURUSD DAILY CHART
US DOLLAR DAILY CHART
- US Dollar is trading near its important support level of 79.025 in daily chart.
- EURUSD pair is approaching its resistance zone of 1.3421 to 1.3497 in daily chart.
- US Dollar breaking below 79.025 can give good direction for EURUSD pair in the short term.
- SILVER BEARISH ENGULFING
