NIFTY Weekend update

• Daily chart shows support at previous resistance levels of 5342 - 5348. Bears need to break below this level for  a bigger down move to happen.
• Daily MACD is moving towards a sell signal. Price moving above 5448 will negate this view.
• 78.6% Fib level of 5629 - 4770 is acting as resistance for now.
• The weekly candle looks like a bearish shooting star. A perfect shooting start would have the opposite color of the prevailing trend Red candle in this case and a bigger shadow or tail. So the significance of shooing star looks less. Weekly chart will show weakness below 100 Week SMA. 
• RELIANCE CHART ANALYSIS

EURUSD Channel and Resistance levels

• EURUSD Four hour chart moving up in a channel. Price near the resistance line of the channel.
• Daily chart is nearing previous support zone which may act as resistance.
• Weekly chart need to close above 20 Week SMA for the up move to continue.
• GOOGLE RESISTANCE LINE AND NEGATIVE DIVERGENCE

GOOGLE Resistance line and Negative Divergence

• Google Weekly chart testing crucial resistance line.
• Daily chart is showing negative divergence with MACD Histogram and Price. MACD lines too is closing in on a sell signal.
• But price is yet to show any weakness in daily chart. breaking the up trend line and 662 levels may start the correction in favor of bears.
• APPLE NEGATIVE DIVERGENCE

APPLE Negative Divergence

APPLE DAILY CHART WITH MACD

• Apple hour trend continues to favor bulls as it trades above 50 Hour SMA. Weakness only if price starts to trade below 50 Hour SMA.
• Major support for bulls is 644 which was the previous resistance. Falling below 644 would favor bears for a bigger fall.
• Last chart shows negative divergence. But price continues show strength so predicting the fall will be costly, let the price show weakness before taking shorts.
• GOOGLE RESISTANCE LINE AND NEGATIVE DIVERGENCE

NIFTY One hour trend analysis

• So far the dips in hour chart has acted as a buying opportunity. The current fall has broken the up trend line and is testing a horizontal support zone. Breaking below this zone and 100 Hour SMA Shall result in a bigger fall.
• Price falls below the hour cloud has acted as buying opportunity so for bulls price must get back above the cloud for continuing the trend.
• 5348 is a crucial level as shown in daily chart analysis. For bears hour should trade below 100 Hour SMA and 5348.
• NIFTY DAILY CHART ANALYSIS

NIFTY Support and resistance levels

• Nifty daily MACD Histogram is showing a negative divergence But price is yet to confirm any weakness yet.
• Daily chart structure will be positive as long as it stays above 5348
• Week has resistance at upper bollinger band and Weakness on falling below 100 Week SMA.
• SILVER HITS RESISTANCE LEVELS

ES Chart update

 

 

• First chart shows price getting out of the rising wedge pattern.
• Next chart shows price breaking below the 4 Hour cloud.
• Now 20 day SMA is getting tested. Daily close below this level will favor bears to extend gains. If price close at these levels or lower It will give a bearish engulfing pattern.
• FACEBOOK CHART ANALYSIS