ES Charts before opening bell

• Bounce was resisted near 2750 zone.
• second chart shows the steady breakdown or a trending down swing in 4 hour time frame.
• Last chart shows possible support zone.

NIFTY 50 Week SMA and 4 Hour Trend

• As long as price holds above 50 Week SMA there is hope for bulls for a bounce. Only a weekly close below this line will further strengthen bears.
• 4 Hour chart with crucial moving averages shows the strength of the move. Falling moving averages shows bears in control But bulls can change this with a high velocity bounce. If the bounce lack momentum then bulls will face resistance at those moving averages.

CRUDE Oil moves out of triangle

• Crude oil moves out of triangle contraction. Daily close outside this pattern and 50 SMA line should extend this up move towards 64 and 66 levels.
• Weakness will resume if the day falls back and close below 50 Day SMA.

ES Hourly cloud and 100 day SMA

• Daily shows price pausing ear 100 Day SMA. Bigger falls will resume only if price falls below 100 Day SMA.
• One hour chart shows price below the cloud. Bearish swing in hour will remain safe till price stay below the cloud.

GOLD at the Apex of contraction | Descending triangle

• Gold daily time frame shows price near the apex of the pattern Price likely to exit the pattern soon. As it is a descending triangle, Also looks like a rounding top, Most expected price action is on the downside with targets of 1290 and 1270 levels.
• On the contrary some descending triangles does move in the opposite direction as well. So an upper breakout cannot be ruled out from the support zone around 1310. 

NIFTY @ 50 Week SMA | Price near 10000 Round number

• Nifty week shows price at crucial support resistance zone near 10100. 
• Traders also look at 10000 as crucial round number. 
• But most important here is the bounce happening from 50 Week SMA. If Week manage to hold above this line then a bounce is possible. Daily did violate 200 SMA. Weekly equivalent of 200 SMA is the 50 Week SMA. So bears need a weekly close as well below 50 to confirm bigger bearish scenario.As of now 50 Week SMA is holding for bulls.

ES 100 SMA and bollinger band Updates

• ES Daily chart shows price moving towards 100 Day SMA.
• 2nd chart also shows a possible support in Lower Bollinger band.
• Bigger correction only if these levels are not held. Close below 100 SMA can be very negative for bulls as it may take price towards 200 SMA again.
• Another point to highlight is the strength of PIN BAR at crucial levels. This one at upper bollinger band has given good results.