- Gold continues to show bearish price structure in 4 Hour time frame. New lows are being formed. Gold bears will remain strong below 1200 levels. Gold bulls need to stay above 1200 and 1220 levels for a reversal to start.
- The weekly support levels discussed yesterday continues to be valid. If gold bulls manage to stay above them a reversal is possible. Gold bears need a close below Weekly cloud to extend gains.
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- Tata Motors hour chart shows price trading in a range between 450 and 475.
- Hour chart also shows a GAP down from which the stock is yet to recover. Price moving sideways in a range with an Unfilled GAP above it.
- If the 200 SMA at 450 levels fails to hold the GAP shown above will stay unfilled for some months. So bulls of TM must hold on to 200 SMA To avoid bigger correction.
- NIFTY One hour and 15 Minute Charts.
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- Nifty one hour shows 50 Hour SMA as immediate resistance line for bulls.
- 15 Minutes chart crucial numbers for the day
- Weakness if stays below 7973
- 50 Hour SMA and 8048 will act as resistance levels for now.
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GOLD at weekly support levels
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- Gold one hour chart shows range breakdown.
- Weekly charts are approaching crucial support levels.
- Weekly cloud and Golden ratio at 1171 are crucial support levels.
- GOLD Weekend update
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- ES one hour chart shows price testing 50 Hour SMA. Rising 100 Hour SMA is the crucial support line for this time frame.
- Hour will stay strong for bulls till price stay above the rising trend lines.
- Crucial numbers for this time frame is 2191 and 2185
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- Crucial support for the Bullish trend in weekly chart are shown in chart 1 and 2. Price near 50% Retrace level. Golden ratio at 7640 and the Weekly cloud combined is a big support zone for bulls to hold above.
- Nifty looks like its trying to form a range below 200 SMA. This could wait for 50 Day SMA to move towards the price and then further breakdown can happen. Or since price has moved far away from 50 SMA a bounce towards 50 SMA is also possible. In any case for bears to extend current gains they have to move away from 200 SMA.
- CRUDE OIL CHART UPDATE
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- Week shows price in a range between 39 and 52. Within this range there is a small range between 42 and 49. Crude bulls must sustain above 49 to test the top of the weekly range again.
- For now the 4 Hour bullish swing is getting tested. Crude bulls are safe till price stay above 4 hour cloud.
- 15 Minutes the small time frame shows weakness.
- CRUDE OIL Weekend update
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