Descending Triangle and support levels of CRUDE OIL

• Crude oil one hour chart shows a descending triangle with a false breakdown.
• 4 Hour chart shows crucial support levels. More weakness if these levels are broken on closing basis.

Descending Channel and Golden ratio of GOLD

• Gold 4 hour chart shows price falling in a channel.
• 4 Hour cloud is the Immediate resistance level in this time frame.
• Price in Daily chart is trying to stay above the golden ratio. If this level is not saved then bigger falls are possible. 

CRUDE Oil bounce analysed

• Weekly chart shows the bounce of crude oil loosing strength even before reaching 23.6% Fib level.
• Daily chart shows price in a range
• Price continues to stay below daily cloud. More strength only if price is able to stay above the cloud.

S&P 500 Futures outside the Daily range

• ES Daily chart shows price above the Big rang.
• One hour chart shows previous resistance level acting as support. These levels must hold for bulls to gain more strength.
• Weakness if price falls back below the One hour cloud.

GOLD Daily at golden ratio

• Gold daily chart shows price at possible support line and Golden ratio.
• Bulls are slightly weaker for now as price stands below 200 and 50 Day SMA. More weakness if the above shown levels are not held.
• Possible bounce if price moves back above 50 and 200 SMA from the current levels.

SBI Trend update

 

 

• SBI Took support near Golden ratio.
• Price is also near 200 Day SMA.
• Bulls need not fall below 275 levels and 200 SMA on closing basis. Bears would become stronger only below these levels.
• BEARISH PIN BAR - BANK NIFTY

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GOLD Trend update

• Gold up move was stopped at 100 Week SMA.
• Daily chart continues to look weak. It will turn weaker if price starts to trade below the cloud.
• 4 Hour Time frame will remain weak below the cloud.