Facebook Trend update

 

 

• The trend for Facebook remains strong as price continues to trade above all crucial moving averages. Price in daily chart is trading in a range between 115 and 121.  These ranges in an up trend usually resolves in favour of bulls but there is a GAP below 115 which is yet to be faded if price does not go through the resistance(121) soon then bears may come back to fade this GAP.
• CRUDE OIL WEAKNESS @ RESISTANCE LINE

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Nifty breakout targets and resistance levels

• Pattern rules suggest a 700 plus points target for the breakout. But it would be rare to see price go according to the rules.
• Next crucial resistance is at 8336. If bulls sustain price above 7970 this level is likely to be achieved. Weakness if price falls back below 7970 levels on closing basis.
• CRUDE OIL WEAKNESS @ RESISTANCE LINE

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CRUDE Oil weakness at resistance line

• Crude oil 4 hour chart shows weakness at the resistance line of the rising wedge pattern.
• More weakness only if price sustains below 49.20 levels as shown in second chart.
• S&P 500 BEARISH UPPER SHADOWS OF MONTHLY CANDLES

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TWITTER Trend update

• Twitter weekly in a strong down trend.
• Hope for bulls in daily time frame if price stays above 13.91. If price does not close below this level the GAP may soon be faded. On the contrary a daily close below 13.91 should take price below 10.
• S&P 500 BEARISH UPPER SHADOWS OF MONTHLY CANDLES

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S&P 500 Futures analysis before opening bell

• 4 Hour chart shows crucial numbers for bulls to break above. Sustaining below these levels may lead to weakness.
• One hour chart may turn weak if price starts to trade below 2082 levels.
• S&P 500 BEARISH UPPER SHADOWS OF MONTHLY CANDLES

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Nifty chart update

• First chart shows daily line chart. There has been 7 attempts to close above 7960 - 8000 levels from September 2015 and only once bulls were able to close above this zone. Price is moving towards this resistance zone after breaking above the falling resistance line shown in weekly chart. So if  bulls are able to do multiple attempts to cross this zone they are likely to be successful. There could be correction as well towards the recent swing lows but as of now the structure in daily is bullish. Bigger weakness only if price breaks below 7700 levels again.
• S&P 500 BEARISH UPPER SHADOWS OF MONTHLY CANDLES

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S&P 500 Bearish upper shadows and Resistance zone

• ES daily moving towards the resistance zone near 2110 level as shown in first chart. 
• Month time frame shows candles failing to close above 2110 level. Although price violated this level bulls never manage to close above this zone. For a bigger breakout to happen month need to close above this level. Just a breakout above 2110 is not going to be enough.
• CRUDE OIL CHART UPDATE

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