SLV Weekend update

• First chart shows price in weekly chart hitting the 20 week moving average and pausing here. Problem is with all that selling volume will the bears stop here? I feel more down moves to come in the coming weeks before we see a reversal.
• Trend lines are projecting price towards 31 - 32 level in the short term.
• Important supports are at 34 this is were the market closed and then the most important one is at 26.74 we have the 50 week moving average around here which will make it an important support level.
• SLV INTRADAY UPDATE
  

AMAZON in a Triangle pattern

• Amazon 30 Minutes chart in a triangle pattern.
• Price in daily chart gave a big breakout recently. So an upper breakout will be an easy long trade to take.
• Since it is a triangle beware of whipsaws.

SLV - Immediate Resistance levels

• SLV Hour may give a green candle. But hour chart has immediate resistances in the form of a GAP that was formed yesterday. GAP is between 36.89 - 38.01.
• Then 10 bar and 20 bar Hourly moving averages are acting like strong down trend lines. Unless these levels are taken out by bulls a Meaningful pull back is not possible.
• SLV ANALYSIS AFTER CLOSING BELL
  
  

ES Hour chart analysis

• ES One hour chart has broken above its 50 Hour moving average.
• But price may find resistance near its 200 Hour moving average.
• So this area of 1348 - 1349 will be crucial for bulls to cross and sustain above.

USO Chart analysis

• USO has broken its 50 day moving average and closed near day's low.
• Momentum may take price close to its 200 day moving average near 37 levels.
• Weekly chart shows trend line support between 35 - 36 level.
• Week chart shows USO in a broad trading range from 22 - 45 level with 32 as the important support resistance level.
• SLV ANALYSIS AFTER CLOSING BELL
  

NIFTY Bulls saved by Golden Ratio

CHART-III

CHART-II

CHART-I - DAILY TIME FRAME

• 50% Fib level is acting as resistance.
• Up moves will be possible only on breakout above this level.
• GOLDEN RATIO POSTED YESTERDAY
  

Nifty Daily Analysis

• Nifty Week shows price approaching the support line of the triangle formation in weekly chart. For a perfect touch on the support line to happen nifty should break 5400.
• Stochastic in daily chart and other indicators are showing oversold status which can give a trading bounce. But if this is a bigger trending market then the oversold indicators will stay oversold and Nifty will continue to move down.
• Nifty week line chart shows good support between 5300 -5450 level.
• EURUSD CORRECTION IN A BULL MARKET