- If 20 DMA and 50 Hour SMA gives support 1208 levels looks possible for bulls during this week.
- But one should remember that this consolidation is happening in a down trend. And 20 Day SMA acts as stiff resistance during such trends So we shall see how price reacts from there when it hits it.
- SLV TREND UPDATE
- SLV hour is approaching a gap and 50 Hour moving average.
- So for bears to extend the gain they have to break and close below 50 Hour moving average and the GAP.
- Price staying below 41.19 will be negative.
- Bulls of SLV should hope that the GAP and 50 Hour moving average acts as support.
- SILVER BREAKOUT FAILURE
- Crude Oil four hour chart shows price converging towards the apex of a consolidation pattern.
- Price is trading between 79 - 89 levels.
- So breakout or breakdown from the pattern shown above should take out either 79 or 89 for bigger moves to happen
CHART-III
- Price has rallied to the upper end of the range.
- If hour does not close above 1153 we may see a correction here.
CHART-I
- ES is still stuck in a range.
- 50 Hour moving average is not showing any trend.
- Price has to stay below 1111 or above 1153 for bigger moves to happen.
- SILVER CHART UPDATED
CHART-III
- To extend profits bears shall stay below 42.25 level.
CHART-II UPDATED CHART
CHART-I POSTED YESTERDAY
- Silver is trying to hard to stay above the broadening pattern.
- But attempts of bulls to stay above 44 is being rejected.
- As discussed in the previous post on silver Price falling below 42.25 will strengthen bears of silver.
- CHANNEL OF PLATINUM
- Nifty hour chart knocking at 50 Hour moving average.
- This up move will continue only if price is able to close above this moving average.
- Remember last time hour closed and traded above 50 Hour moving average was at 5600 levels.
- Nifty has given an up move.
- Up move might pickup momentum above 4932 levels.
- If this continues above 4932 then price may target the 5 day High EMA at least.
- One shall remember the larger trend in mind before trying to take large long positions.
- S&P 500 INTRADAY UPDATE
- CHANNEL OF PLATINUM
