SLV Intraday Update

• SLV Daily time frame is testing an important support level.
• Price closing below 32.76 will favor bears.
• Price continue to stay below 50 and 20 day moving averages.
• SLV will continue to trend down if it stays below 20 DMA and below 32.76 level.
• S&P 500 WEEKEND UPDATE
  

EURUSD Triangle Pattern

• EURUSD Daily chart is near the support line of the triangle pattern
• If price gets support here it may start to move up towards the resistance line of the triangle.
• For now price is below the 20 week moving average which is negative for the pair.
• S&P 500 WEEKEND UPDATE
  

SBI approaching Resistance level

• SBI is showing good upside momentum
• Price may pause at 2356 level which was the recent swing high.
• Bigger up moves will be possible only on breaking and closing above 2356 level.

TATA MOTORS Analysis

• Tata motors May form a bottom formation at the current levels.
• If the Golden ratio and Hammer holds we may see the stock moving up soon.
• One can wait for Price to close above 20 day moving average to buy the stock.
• NIFTY WEEKEND UPDATE
  

DOW JONES Weekend Analysis

• First chart is the weekly time frame with price near support area and near the weekly supporting trend line.
• Daily chart shows price closing in on 200 DMA.
• Seeing the above charts i feel the weekly trend line and 200 DMA is likely to hold the index and a bounce from these levels is possible.
• S&P 500 WEEKEND UPDATE
  

S&P 500 Weekend Analysis

• First chart shows SPX Weekly wedge, Price yet to hit the support line of the wedge. Current correction in weekly chart may get over only after price hitting the support line of the wedge. Bigger correction may follow if the wedge gets broken here.
• 2nd chart shows price with 200 DMA and the support level of 1250. Break of this Moving Average will push price down to 1250 level. So all this action may happen near the support line of the wedge and an up move may start from this area. 
• For Bears Wedge and 200 DMA Breakdown will be a great event. But on seeing the price action it looks like 1250 may hold in the medium term.
• SPY 5 MINUTES CHART WITH SUPPORT RESISTANCE LEVELS
  

Nifty Weekend update

• All Indications are that this up move may continue. 
• Next important resistance is at the 20 week moving average and 5604 level. 20 Week moving average is near 5560 level.
• Look at the last chart the weekly Bollinger band, Price hits and reverses perfectly. 
• We saw the Bullish Engulfing But to be frank such a big up move was not expected. The bulls were swept away at least for one day. Bears may get their chance between 5560 - 5604 level.
• Weekly chart is showing a possible false spike out of a consolidation pattern this can be very negative for bears as false moves tend to give vicious moves in the opposite direction.
• Daily MACD and STOCHASTIC shows chances of this up move continuing for a while.
• S&P 500 WEEKEND UPDATE