- Weekly chart is showing a bearish trend line break.
- Daily chart is also trending down below the 200 day moving average.
- Price in daily chart is moving down in a narrow channel.
- RSI and price movement is showing some divergence, But things will favor bulls only if price confirms an oversold bounce by closing higher.
- BIDU TRIANGLE PATTERN
- Bidu has a triangle pattern in daily chart.
- Price is trading above 50 day moving average.
- So a break in favor of bulls would be an easy long to take.
- For bears Bigger gains can happen only if 50 dma gets broken along with the triangles support line.
- ES HOUR CHART ANALYSIS
- ES Near 200 hour moving average. Price has to close above this MA for further up move to happen.
- Bulls manage to break the resistance line in hour chart. But further up move will be possible only if they manage to break above the 200 hour moving average.
- Nifty's moving average is showing a bearish alignment.
- 20 day moving average is approaching 50 dma.
- We had a similar event near 6000 levels. For this one to work perfectly Price should continue to stay below 20 day moving average.
- Bears will get bigger gains once the trend line shown in weekly chart gets broken.
- SILVER May Give a Bearish engulfing Weekly candlestick pattern
SILVER WEEKLY CHART
- Silver weekly chart with a possible bearish engulfing pattern.
- If this one gets confirmed we may see price slide back to the trend line shown in weekly chart.
- For bearish weeks to unfold price has to close near 34 levels. This will make sure that the body of the previous two bullish candles will be engulfed by this bearish engulfing candle.
- DOW JONES ANALYSIS
- SPY 5 minutes chart with today's range.
- Break below 127.47 may fade the GAP.
- If price takes support at 127.47 we may see an up move towards 128.39.
- DOW JONES ANALYSIS
- Price in hour chart is trying to break the resistance line
- 1282 - 1283 area will act as resistance for ES.
- Break below the yellow line will favor bears.
- DOW JONES ANALYSIS
