- Last chart shows 50 Hour SMA below 200 Hour SMA. Up moves towards 200 Hour SMA will face selling pressure.
- Four hour chart shows price taking support near 200 period SMA and near recent swing low of 1357. Breaking below 1357 may target 1340 levels.
- For bulls to regain momentum they should break and trade above 200 Hour SMA.
- Price has broken the support level at 30.98.
- Daily candle closing below this level will add strength for bears of silver.
- Bulls of silver need the golden ratio to be held for a possible up move.
- BIDU Falling after a bearish engulfing pattern in weekly chart.
- Price is testing 200 SMA in daily chart. More falls only if this crucial support gets broken on closing basis.
- IWM Four hour chart testing support levels and 200 period SMA.
- Closing below these levels will strengthen bears of IWM.
- Price closing above 200 period SMA should result in a bounce.
- Price nearing an important support line of a bearish pattern.
- Breakdown below the support line should also takeout 100 Day SMA on closing basis for a bigger fall to happen.
- Unable to break 100 Day SMA should result in a long trade.
- INTEL RISING WEDGE AND NEGATIVE DIVERGENCE
- Crucial support for reliance are 718 and 687.
- Price is trading below all major moving averages.
- Weekly stochastic is yet to bottom out. Price if mange to sustain above 20 Week SMA we may see a turnaround.
- Stock will be weak below 718.
- For short term bulls price need to close above 20 day SMA.
- NIFTY WEEKLY UPDATE
- Closing below the middle bollinger band or 20 Day SMA may trigger a sell.
- For bulls its the 50 Day SMA, Bulls also need to stay above the falling resistance line to avoid a bigger correction.
- Weekly chart shows bullish engulfing pattern which needs confirmation. Increasing volume and closing above 5 week High EMA should confirm bullish momentum.
- 5180 level is shown as a price pivot zone. price has visited this place many times, For now nifty is unable to move away from this zone. Bulls or bears if manage to cross important levels we may see a bigger move away from this zone.
