- Tesla motors daily chart shows immediate support at 20 Day SMA and 38.2% Fib level.
- Daily cloud is acting as stiff resistance as shown in chart 3. For bigger up moves to happen price must breakout above the cloud. Daily chart looks like its trying to put up a bottom in place just above the 200 Day SMA. Bigger weakness only if the 200 SMA is taken out on closing basis.
- Immediate support levels for nifty at 7563 and 7504.
- MACD Histogram and price shows negative divergence For this to work price has to close below 5 Day Low EMA and the above mentioned support levels.
- If price stays above these levels the negative divergence is likely to fail.
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- Gold Daily time frame shows price pausing at 20 Day SMA.
- 4 Hour time frame also shows price pausing at 38.2% Fib level and cloud.
- Gold bulls need to close above these levels to target 1280 zone. Weakness here may resume the down move.
- ES 4 hour chart with support levels
- Weakness if price starts to trade below the up trend line.
- EURUSD trading near crucial support levels in weekly time frame.
- Crude oil daily chart shows price testing the resistance zone. Daily chart looks like a Bullish ascending triangle, But the chances of a Triple to cannot be ruled out as well.
- Weakness can be confirmed if price falls back below the four hour cloud again.
- BN is showing negative divergence But corrections thus far are shallow and limited to 20 Day SMA. So a bigger fall only if 20 day SMA is broken on closing basis.
- If 20 SMA is broken then price is likely to move sideways in a range as shown in first chart.
