- ES Daily shows price taking falling from resistance line is yet to fall below 20 day SMA. For bears need a breakdown below 20 SMA for a bigger fall.
- 4 Hour chart shows price taking support near the resistance line and 4 Hour cloud. For a possible trend change there should be a cloud breakdown.
- GOLD RESISTANCE LEVELS
- Gold weekly chart nearing resistance levels.
- Price is near Weekly falling resistance line and 50 Week SMA.
- Price is also near the weekly cloud were many attempts to breakout has failed. Only a breakout above the cloud will ensure a bigger up move in gold.
- SILVER RESISTANCE LEVELS
- Silver weekly chart with falling resistance line from 49 through 37.
- Last two attempts to stay above 50 week SMA has failed if the up move continues price may test 50 week sma again.
- Daily chart shows price nearing resistance level and 200 day SMA.
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ES CHART ANALYSIS
- ES yet to test the supporting trend lines.
- Price is doing a bearish consolidation above 50 period SMA.
- For a possible trend reversal price must break below the 4 Hour cloud.
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CRUDE OIL AT GOLDEN RATIO
- Price continues to rise in favor of bulls But daily chart indicators like RSI is showing overbought levels.
- Weekly is nearing upper bollinger band.
- Weekly line chart shows price violating a crucial line Bulls need a weekly close above this line. Price falling back below this line will favor a correction.
- Price is trying to stay above 100 week SMA. Any intra week fall below this level too may give a bigger fall.
- GOLD TRIANGLE BREAKOUT
- SILVER TRIANGLE BREAKOUT
- CRUDE OIL AT GOLDEN RATIO
ONE HOUR CHART
FOUR HOUR CHART
DAILY CHART
- Hour has given a correction but has not fallen below 50 Hour SMA.
- 4 Hour chart shows a shooting start candlestick which will be effective only on falling below the support line.
- Daily chart shows bearishness at previous resistance levels But for bears price must at least fall below 20 day sma for a bigger fall to happen.
- SILVER TRIANGLE BREAKOUT
- ES Four hour chart showing weakness after a Bearish Pin bar candlestick.
- For bigger falls price must sustain below 50 period SMA.
- Bulls are safe as long as price sustains above the black support line shown in first chart.
- SILVER TRIANGLE BREAKOUT
