- Bullish looking cloud chart for gold But for now price is stuck in a range as shown in four hour time frame. More importantly price is pausing at golden ratio. gold bulls must trade above golden ratio for bigger moves to happen. for now breakout from the 4 hour range may give larger direction.
- ES bulls shows weakness as it breaks another trend line and testing the 4 hour cloud. But bears may gain strength only on breaking below the yellow horizontal support zone shown in first chart.
- Silver above 50 Week SMA and the Falling resistance line of Weekly chart.
- Possible resistance in weekly cloud. Last attempt to move up was stopped at the weekly cloud. For silver bulls to extend this up move price must move into the weekly cloud.
- Daily chart shows previous resistance level acting as support which was the scenario discussed earlier. Now that the first touch at this level has given a bounce if tested again its unlikely to hold.
- 4 Hour chart shows crucial support levels.
- AMAZON Daily chart shows weakness at 100 Day SMA. Candlesticks shows a bearish engulfing pattern.
- Price trying to move above the daily cloud. Bulls unable to close above the cloud for now.
- Price is stuck between 50 and 200 Day SMA. A bigger direction only when these moving averages gets broken again on closing basis.
- Immediate range is between 323 and 340. Violating these numbers may increase volatility for Amazon.
- GOLD VIOLATES RESISTANCE LEVELS
- EURUSD 4 Hour chart shows price falling back into the cloud. Recent attempt to stay above the cloud of this time frame too has failed.
- Daily chart shows weakness as pair nears 50 and 200 Day SMA. Pair also nears a death cross in daily time frame as 50 SMA is about to cross below the 200 Day SMA.
- Performance of Death cross will be decided by the weekly up trend line. If this line goes the death cross will look good.
- GOLD VIOLATES RESISTANCE LEVELS
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- Gold moves above 50 and 200 Day SMA
- Daily cloud too is broken by gold bulls. Daily candle closing above the cloud will add strength for gold bulls.
- Last chart shows immediate fib resistance levels.
