EURUSD Resistance levels

• EURUSD Testing crucial resistance zone in daily time frame. Price also near 200 Day SMA. Pair should either do a big breakout here or a Double top like correction. 

Reliance Price and Volume spike

• Reliance moves above the 940 resistance zone with good volume increase. As can be seen from the weekly line chart price is moving into a bullish zone out of a weekly range. Last time it did this the stock moved past 1100 levels easily before falling again. This time too if resistance levels like 1000 and 1030 are crossed chances for a bigger up move exist. 
• Ascending triangle of REIANCE INDUSTRIES

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SILVER Triangle update

• Silver spike got resisted at 200 Day SMA. Price continues to stay above the triangle support line. Hope for silver bulls till price stays above the triangle support line.
• ES Descending broadening pattern breakout

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Descending Broadening pattern of ES

 

• 4 Hour chart shows a Descending broadening formation breakout. According to Bullowski's pattern site target for a bullish breakout is the Highest point within the pattern. ES likely to test the recent high's again.

Ascending Triangle of Reliance Industries

• Reliance bulls has managed to close above 200 Day SMA But price has run into a resistance zone between 940 - 950. This is the resistance line of a Bullish ascending triangle pattern. A bigger up move will be possible only if price close above 950 levels. Price is likely to stay inside the ascending triangle for some more time before a bigger breakout can happen. For now the upward momentum will be lost if price closes below 918 levels and Weakness will return if price closes below 200 Day SMA.

CRUDE Oil in a rectangle

• Crude oil daily chart shows a range between 56 and 62 levels. Price testing 50 day SMA. Daily Close below  50 day SMA may take price towards range bottom. Up trend safe till price stays above 200 SMA. Current formation can be considered as a bullish Rectangle. 

Nifty Trend update

• Trend continues to be down in all time frames with Price shaping for a bounce against the trend. Bulls need to stay above 8160 levels for any strength to return. More pain for bulls below 7940 - 7960 level. Bears need a weekly close below this zone.