DAILY CHART OF GOLD
GOLD WEEKLY CHART
GOLD WEEKLY CHART
- First chart is the daily chart of gold with 50 day moving average.
- Price has started to move away from the 50 DMA.
- Next important support level in daily time frame is at 1314 area.
- Weekly chart too gives a bearish picture with price breaking 20 week moving average.
- But the trend line in weekly chart shows a correction in a larger bull market. Unless price breaks below the weekly trend line this will end up as a pull back followed by another up move.
- SILVER LOOKS WEAK
- Price is trying to break above 1283.50
- Price sustaining above this level will favour bulls.
- Price getting resisted here may trigger a correction again.
- SILVER LOOKS WEAK
- NF Hour chart with a rectangle pattern.
- It seems NF will remain range bound for some time to come.
- Only a decisive break of 5750 or 5620 can give direction.
- Nifty is moving in a sideways direction for the past few day's.
- Break of either the 5 day high ema or the 200 Sma can give good direction.
- Price and stochastic are hinting at an oversold bounce. to be confirmed by a close above 5750 - 5770 area.
- SILVER CHART ANALYSIS
- Silver has broken its support at 28.
- Price has also broken below the trend line in daily chart.
- Price sustaining below 28.06 will make it weaker and correction will become deeper.
- Price getting back above 28.06 may help the bulls of silver.
- EURUSD Daily chart with resistance level and stochastic indicator.
- Pair staying below 1.3430 will make eurusd weak.
- Stochastic is showing overbought levels. If the pair sustains below 1.3430 we may see the pair getting weaker.
- S&P 500 FUTURES BEARISH ENGULFING PATTERN
BEARISH ENGULFING
TREND LINE SUPPORT
- ES has formed a bearish engulfing pattern in its daily chart.
- Now Bears should try to break the trend line drawn in daily chart for extending their gains.
- Getting support on the trend line will give hope for the bulls to extend the primary trend.
