IWM Triangle pattern

• IWM Daily chart shows a triangle pattern. Price near the apex of the pattern may soon give bigger direction out of this consolidation.
• Price for now is below 200 Day SMA
• Weekly chart shows price managing to close above 50 Week SMA. Bears need a weekly close below 50 Week sma. Bulls need to move back above 200 Day SMA to avoid bigger correction.
• FACEBOOK WEEKEND UPDATE

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FACEBOOK Weekend update

• Facebook daily chart shows a triangle shaped contraction pattern.
• Breakout from the pattern may not give bigger up moves because of the cloud and crucial moving averages.

QQQ Resistance levels update

 

• QQQ Testing confluence of resistance levels.
• Price need to close the day above Golden ratio for bigger up moves to follow.

TATA Steel weekend update

 

• TATA Steel gave good up move on the news day but price has come back to the neck line of the bullish pattern.
• Daily shows a big bearish engulfing pattern But this pattern needs to be followed up by more selling to confirm further bearishness. If the neck line holds another up move is possible.

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SILVER Resistance levels update

• Silver Daily chart shows weakness near confluence of resistance level. 

EURUSD Chart update

• EURUSD Bulls trying to form a bottom above the Support levels discussed in an earlier post.

ES Chart analysis

 

• ES 4 Hour chart testing crucial horizontal support zone.
• Price has fallen below the cloud and the rising support line.
• Daily chart shows price extending weakness and Testing the crucial 38.2% Fib level.