Stock Market Chart Analysis

December 18, 2016

-->

Silver month chart shows a down swing towards the Trend line drawn from 2005 Lows. For this to happen price should break below 15 levels.
Immediate support for Silver near 15.80 levels. More weakness only on week staying below this level.
4 Hour chart shows the double top the subsequent fall and the Immediate resistance at 16.16 levels. For a bounce to happen price should sustain above 16.16 levels.
GOLD Trend update

-->

Gold 4 hour chart shows price continues to trade below the cloud. Price sold off as it neared the cloud.
50 Period SMA acted as strong resistance as well. There were 3 Bullish attempts which failed at this moving average.
Now for a sudden bounce to happen price must get back into the pattern shown in 3rd chart.

-->

ES 4 hour chart with crucial support levels
Weakness if price falls below 2243 and 50 Period SMA.
looks like a bearish head and shoulder type of pattern developing in 4 hour chart.

-->

Crude oil month chart shows a Bullish pattern being formed. Price sustaining above 52 levels will be negative for crude bears.
Levels to watch are 52.42 on top.
Bears need to sustain below 49.61 on closing basis for bigger falls to follow.
Broadening pattern of EURUSD

4 Hour chart shows price testing support zone of the Broadening Pattern. 1.0520 is the crucial low in 4 Hour time frame.
If 1.0520 does not hold the weekly lows are likely to be tested.
Month chart is in consolidation after a Big down move. Mostly these consolidations are likely to be solved in favour of the bigger move. 1.0456 is the crucial level in week and month charts.

-->

Apple daily testing 50 Day SMA line which may act as resistance. At the same time 4 Hour chart shows a bullish cup and handle like pattern which is Bullish.
So crucial levels are 112.50 on the upside and 111.50 as support zone.
GOLD Pausing at Golden Ratio

-->