QQQ Rising wedge Update

 

 

• QQQ Bulls trying to keep price outside the Rising wedge pattern. Price falling back into the pattern may result in a false breakout trade which can give bigger moves in favor of bears.
• Immediate support levels are shown in chart 2 and 3.

NIFTY Chart analysis

• Nifty Trading in a range. Strength above 5960 - 5990 zone and Weakness below 5750-5790 area. 

JP Morgan Chase Chart analysis

 

 

• JPM Daily chart shows price taking support at its 200 Day SMA. Second chart also shows price taking support at 50.07 - 50.11 support zone.
• Last chart shows strong resistance at 50 Day SMA and the presence of the bearish Head and Shoulders pattern.

ES Chart update

 

• ES Continues to trade below the hourly cloud. But the 4 Hour chart is trading at crucial support zone. Close below 100 SMA should give the Golden ratio. Taking support here will invalidate the Head and Shoulders pattern.

BANK Nifty Chart Analysis

• Multiple support levels near 10000. Bulls must hope this zone holds for a trading bounce to happen. Breaking this level on closing basis will further weaken the Bulls of BN.
• CRUDE Oil trend update

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ES Head and Shoulders

• ES 4 Hour chart shows a possible head and shoulders pattern which needs price to sustain below the shaded area and 100 period SMA for doing well.
• One hour chart shows price getting resisted at 38.2% Fib level and Crucial moving averages like 50 and 200 period SMA.
• 1686 level or the Neck line of the pattern may also act as support to invalidate the bearish pattern.
• CRUDE Oil trend update

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CRUDE Oil trend update

• Crude oil 30 Minutes chart shows price trending down below the cloud.
• Daily chart shows price testing crucial support zone. Down move shown in first chart will extend only on closing the day below 102 levels.