ES Chart update

 

• ES 4 hour chart shows price near the apex of ascending triangle. One hour chart shows price near support line, If holds an upper breakout is likely.

S&P 500 Futures Bullish patterns and Bearish Trend line

• 4 Hour chart shows a bullish "W" pattern. The W is just the saucer part of a big cup and saucer pattern shown in daily time frame. But the bigger time frame is still favouring bears as price still stands below the broken trend line from 2011 lows. As long as price stays below this line bears will be interested in that big correction.

EURUSD Chart analysis

• EURUSD 4 Hour chart shows price in a range. Daily chart is also approaching 200 Day SMA. 1.11 Levels shows Golden ratio as resistance. EURUSD bulls must stay above 1.11 levels on weekly closing basis to extend this up move.

ES Resistance levels

• ES 4 Hour chart continues to stay below the resistance levels discussed Yesterday. Bulls need to cross these levels to extend gains.

Crude oil Falling wedge update

• Crude oil weekly chart shows price trying to stay above the falling support line or the support line of the falling wedge pattern. Current up move is moving towards a possible resistance zone between 38 and 40 and shown in chart 2 and 3. For a bigger up move price must sustain above 40 levels.

-->

ES Chart update

 

• ES approaching possible resistance levels in 4 hour chart.

Nifty intraday update

• Nifty bulls need to sustain above 7852 levels for extending gains.
• Intraday weakness below 7840 levels. If the support line shown in 15 minutes chart is not held bigger falls can be seen.