Gold Triangle and Range

• Gold 4 Hour managed to stay inside the triangle.
• If the Triangle does not give good direction price may remain in a range as shown in chart 2.
• Gold bears need to sustain below 200 period SMA shown in 4 Hour time frame.

S&P 500 Futures test of resistance levels

 

• ES 4 hour chart shows price moving above one of the resistance levels.
• Daily has one more resistance level to cross.

GOLD 4 Hour chart update

 

• Gold 4 Hour chart shows price testing crucial support zone. 
• More weakness if 1180 levels is broken on closing basis.

INFOSYS Conflicting signals ahead of quarterly results

• Conclusion of above charts is that daily is looking bullish but weekly is showing big bearish possibilities. Hence the title conflicting signals ahead of quarterly results.

Nifty near 200 Day SMA

 

 

• Nifty bounces from or near 200 SMA. Bounce was also closer to previous month low. Now both 8284 and 8269 are crucial numbers. 8269 being previous month low must hold for bulls to avoid bigger correction.
• Week yet to test the up trend line from 5118 levels.  
• GOLD Chart analysis: CLICK Here

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Gold chart analysis

 

 

• Gold daily continues to show weakness as price nears 200 Day sma.
• Fib chart shows a range between 23.6% Fib level and 50% Retrace level.
• 4 Hour chart shows good price action for gold bears But this needs more follow up. Bigger weakness only below 1175 - 1180 levels.

CRUDE Oil Trend update

 

• For this bounce or minor up trend in crude oil the 54 - 55 zone is crucial. Crude oil bears need price to fall back into the range.
• 200 SMA in one hour chart and 4 Hour cloud are crucial levels to hold above. 
• Broken range top is trend deciding level. Bulls must stay above this zone to avoid bigger weakness.
• ES Trend update: CLICK Here

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