COPPER in a Triangle pattern

• Copper daily chart shows a triangle formation.
• 2nd chart shows price with 100 Day SMA and the important support and resistance lines which copper has to takeout for a bigger move to happen.
• MSFT WEEKEND UPDATE
  
• EXXON MOBIL ANALYSIS
  

Nifty intraday Update

• Description in charts click to expand

Falling Wedge of Reliance Industries

• Reliance continue to fall down in a falling wedge pattern. Price has been respecting the support and resistance line of the line chart. For now price is near the upper end of the pattern. If price its not going to give a breakout on closing basis we may see another correction in reliance.
• Daily chart has positive divergence But price yet to close above 20 Day SMA for some strength for bulls to be seen.
• Weekly stochastic is oversold But yet to turn up.
• NIFTY WEEKEND UPDATE
  

QQQ Weekend update

• Price staying above 57.62 levels will help bulls to extend gains.
• 2nd chart shows price hitting the upper bollinger bands with Overbought Stochastic readings. Overbought readings may lead to a correction.
• If the up move continues It may target the resistance line of a bigger contracting triangle pattern shown in 3rd chart. This resistance line for next week is around 58.60  to 58.70 levels approximately.
• MSFT WEEKEND UPDATE
  
• EXXON MOBIL ANALYSIS
  

Exxon Mobil Chart Analysis

• There is negative divergence. Good resistance levels and Bearish candlestick patterns. But it will be safe to short only on a close below 20 Day SMA.
• Stock will be weak below 85 levels. But positional shorts will be safe on  close below 20 Day SMA.
• Trading above 86 will favor bulls to continue the current up move towards 88 - 89 levels.
• MSFT WEEKEND UPDATE
  

MSFT Weekend Updated

• MSFT Weekly candle shows a clean breakout with good closing near the high of the week.
• Daily chart shows price testing a possible resistance level with overbought indicators.
• But in this case If price sustains above 28.15 level then this up move will continue with indicators continue to sustain at overbought levels.
• Weakness for the very short term can be seen from the Bollinger bands in daily chart. Last four candles closed above the upper bollinger bands which is good for bulls. No weakness until this trend continues.

NIFTY Weekend Update

• If price gives a breakout above 4800 Bulls need support from 50 Day SMA. Breaking above 50 Day SMA will give a larger up move.
• Getting resisted near 50 Day SMA will give an opportunity to go short.
• Bulls will be weak below 20 Day SMA. Bears will be strong below 4588.