- Weekly time frame is shown in second chart which is showing a Bounce from 20 Week SMA. If week builds momentum then this up move can take price back towards 10100 levels.
- Hour is also showing an up swing. Weakness if Hour calls back below 9950 and 9880 levels.
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- Daily chart shows Price near the resistance line of the Flag pattern. If price gets resisted here another Dip towards 200 Day SMA is possible.
- For the Bullish trend to stay alive This pattern has to be a Bullish Flag.
- One warning for the long term investors is the Long upper shadow in weekly chart shown in chart two. But this one will be more prominent only if Daily closes below 200 SMA.
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- ES one hour chart shows weakness at the top.
- But All charts shows multiple support levels for Bulls. Up move will weaken further only if price closes below 50 Hour SMA.
- Trend of Hour will not be challenged until price falls below the Hourly cloud.
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- ES one hour chart shows a bullish channel. As price moves up inside the channel MACD continues to show negative divergence. Reaction for negative divergence may happen only if price break below the channel and 50 Hour SMA.
- This up move of ES Bulls will continue to remain strong till price stay above 50 Hour SMA
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- Alphabet daily in range
- Price likely to remain within the larger range. There could be false spikes out of the small range shown in above chart. Small range being 961 - 977.
- Bigger range of Google between 929 - 1008
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- ES one hour chart shows immediate support at 50 Hour SMA. Price falling below 2529 and 50 Hour SMA will favour bears for the day.
- Trend change in hour will happen only if price falls below the cloud.
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- Weekly chart of BN shows bears trying to form a Top. Price need to stay below 23800 levels on weekly closing basis for bigger corrections to follow.
- Closing the week below 20 Week SMA Line may also strengthen bears. So BN bulls need to stay above both these levels.
- One hour chart shows a bullish inverted head and shoulders pattern. Last chart shows the bullish pattern and price positioned below the cloud which is bearish. Price moving below 24000 will favour bears in hourly chart. Hour will turn bullish above the cloud...
- NIFTY Weekend update
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