SLV Moving towards Channel Top

• SLV Daily chart is moving towards the channel resistance.
• Resistance line is approximately between 41.70 - 41.80 level.
• SLV is likely to get resisted at this channel. Daily close above this line will change the above scenario.

APPLE Support line and 50 SMA

• AAPL Testing 50 Day SMA again. Last fall to this level took support there.
• Four hour chart also shows a possible support line.
• Breach of both these levels can give good correction for apple.
• If price holds 50 day SMA  then stock will move up to 380 levels again.
• TRIANGLE OF MSFT
  

Triangle of MICROSOFT

• MSFT Week is near support line of the triangle pattern.
• Daily chart has not formed a bottom formation yet. Price in daily chart is still below 50 day moving average.
• Since Price is close to the weekly support line one can look for a reversal pattern in daily chart to enter long in MSFT.
• If the support line of the triangle breaks down it will be a shorting opportunity.
• NEGATIVE DIVERGENCE OF GOLD
  

GOLD Negative Divergence and Spinning Top

• Gold four hour chart is showing negative divergence with macd indicator
• Four hour candle has given a spinning top formation
• If this hour candle closes in red we may see gold pull back to 1814 levels or the trend line shown in 2nd chart.
• My recent post on negative divergence in gold has not done well because of the primary trend of gold. This one looks convincing but current candlestick also should close in red to confirm the weakness.
• CRUDE OIL NEGATIVE DIVERGENCE TRADE
  

S&P 500 Futures Hour chart analysis

• ES is trending down below 50 Hour moving average.
• Breaking below 1117.50 level will give another correction.
• Fib levels and 50 Hour moving average will act as resistance if ES starts to move up.
• CRUDE OIL NEGATIVE DIVERGENCE TRADE
  
• S&P 500 ANALYSIS AFTER CLOSING BELL
  

SILVER Trend update

• Hour of silver is trending up above 50 Hour moving average.
• Price has good support in the form of an up trend line too.
• Price yet to close below 50 Hour moving average from 38.80 levels. 
• So weakness will be seen only if hour candles start to close below 50 Hour moving average.
• CRUDE OIL NEGATIVE DIVERGENCE TRADE
  

Descending Triangle of NIFTY

• Descending triangle has given a good short trade.
• Intraday bounces are getting smaller. Trend seems to be strong.
• So it is wise to wait for a meaningful pull back before one goes long again.
• Price moving above 4839 may give some strength.