SILVER Bearish Price action

 

• Silver bears need to close the daily candle below 200 Day SMA for a bigger fall to happen.
• Weekly chart too shows weakness at falling resistance line.
• 4 Hour chart shows price below the cloud. Price sustaining below the cloud may lead to further falls.
• CRUDE Oil Support levels

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CRUDE Oil support levels

 

• Crude oil daily chart shows price Bouncing from support confluence. Further weakness only if price closes below 200 Day SMA.

ES Chart update

• ES moving in a channel
• 30 Minutes and one hour time frames shows cloud and 50 Hour Moving average as crucial support levels.

NIFTY Chart analysis

• NIFTY Daily chart on closing basis shows price outside the range. But the actual range is yet to break. Bulls must stay above 6415 level for sustaining the momentum.
• Weekly charts are yet to show any weakness. weekly indicator is yet to reach overbought levels. Candles are yet to show weakness.
• RELIANCE COMMUNICATION FALLING WEDGE PATTERN

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CRUDE Oil Bearish price action

• Crude oil breaks the 4 hour cloud.
• Price trading below 20 SMA in daily time frame.
• Crucial level to watch is the big round number at 100. This level acted as resistance recently so it may act as support. If 100 is not held bigger correction is possible.
• TRIANGLE BREAKOUT - BANK OF AMERICA

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Reliance Communication Falling wedge pattern

• Possible bullish setup in Rcom. But price need to close the day above the discussed levels in chart for confirming a breakout.
• AXIS BANK FALLING WEDGE PATTERN

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BANK Of America Analysis after closing bell

• BAC Daily chart shows a Triangle breakout.
• Closing above the recent swing high of 17.42 is likely to take the stock above 18.50 levels.