GOLD falling into the Weekly Channel

• Gold is trying to Re enter the weekly channel.
• Price has broken 50 Day Moving average and is testing its 100 Day Moving average.
• We may see a bounce if 100 DAY SMA holds. Bearish momentum is high so longs will be risky.
• In the medium term price may try to enter the Weekly channel shown in the first chart and continue the steady up move staying within this channel.
• ES POSITIVE DIVERGENCE
  

SILVER breakdown below 50 Week SMA

• SILVER Breaks below 50 week moving average.
• 32.30 level may act as support for sometime.
• If 32.30 goes then silver may target 50% Fibonacci retrace level for the rise from 8.44 to 49 levels.
• ES POSITIVE DIVERGENCE
  

S&P 500 Futures Hour chart analysis

• ES Hour is moving down in a channel
• Cloud is shown in 30 Minutes time frame. Cloud is acting as resistance. Price breaking and sustaining above it may give good up move.
• 30 Minutes is also showing divergence with MACD yet to confirm by price.
• For bulls price should break above the channel for a sustained up move to happen.

NIFTY Channel resistance

• Price closing above Week low ema may give some relief for bulls.
• Next supports are at 4890 and 4815 levels.
• Price got rejected at the middle channel. This could just be a bottom formation in weekly time frame as long as there is no wild falls. When the bottom formation completes the middle channel will be broken.

SILVER - Target for breakdown

• Silver has violated its trend line in daily chart.
• Price is moving down towards its 50 Week moving average.
• So First target could be around 34.50 levels approximately.
• Week closing below 50 week moving average could bring more down falls for silver.
• USO TARGET FOR THE BREAKDOWN
  

USO - Target for the breakdown

• USO Moving down towards 30.31
• Breaking below 30.31 will add momentum for bears.
• GOLD BREAKS 50 SMA
  

ES Oversold But may continue to fall

• ES enters oversold level as shown with stochastic readings.
• But as shown with the ellipses Price continue to fall till stochastic turned up above 20% line.
• So now the only hope for bulls is that price is close to the bottom of the range. If stochastic turns up above 20% line we may see es taking support.
• Breaking below 1110 levels can add strength to this fall. Its a steep fall, Price momentum is high so the probability of ES taking support here is very low.
• AAPL NEGATIVE DIVERGENCE
  
• S&P 500 ANALYSIS AFTER CLOSING BELL