- Tesla month candle shows weakness at the top of the range.
- Weekly candle is showing a large upper shadow, Price if closes at the current levels or lower will form a good bearish candle. Any rally in favour of bulls today will spoil this pattern for bears.
- Daily chart is shown with 20 day SMA support line. Bigger weakness for the stock only closing below this line.
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- ES One hour chart shows price testing crucial support levels.
- close below Hourly cloud and 2331 levels may lead to a bigger fall. Immediate weakness below 2336 levels.
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- Nifty 4 hour chart shows price nearing the up trend line.
- One hour is still in a sideways range.
- Closing outside the range may lead to a bigger trade in Nifty. As long as the UP trend line holds bulls are in control. Weakness below 8700 - 8715
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- ES 30 Minutes chart shows price falling to the cloud one more time. Will the cloud hold again. Price has been giving good buy on dips on this time frame till now.
- One warning for bulls is the Sideways moving MACD shown in One hour chart the last Image shows the Negative divergence. But Price continue to negate the divergence and move up, So its difficult to know when the divergence trade might start. As of now price yet to show weakness.
- As long as the bullish channel holds corrections are likely to be small.
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- Nifty hour in a range
- 38.2% fib level acting as support
- One negative for bull is that price has fallen below hourly cloud after a long gap. So bulls need to move back above the cloud to regain momentum. Staying below the cloud may work in favour of bears.
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- ES 30 Minutes chart shows price trending above the cloud. Weakness only if ES bears are able to close below the cloud.
- one hour chart shows a Bullish channel. Corrections likely to be shallow till the channel is in place.
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- Gold bulls trying to hold on to crucial support zone. Price staying below 50 period SMA is negative for bulls But Gold bears need to do more and stay below 1220 levels for bigger falls to follow.
- Staying above 1220 Gold bulls can make a comeback to extend the up move.
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