SILVER Chart Update

• Silver weekly charts finding support at crucial support levels.
• Hour chart has broken above 200 Hour SMA. For bulls of silver price has to sustain above this level.

ES Trend update

• ES Daily chart near resistance line, 100 Day SMA and cloud. 
• Price sustaining above these levels will change the trend completely in favor of bulls.
• FALLING WEDGE OF GOLD

NIFTY Hour and Monthly charts

• Nifty hour chart shown with range breakout with target near 5300 levels.
• Month chart shows 5 Month High EMA near 5330 level and a falling resistance line in month chart which may act as resistance. Moving passed above these levels could lead to a bigger breakout. For bulls need a close near the high of the day week and month to sustain the bullishness to the next month.

Gold chart analysis

Falling wedge updated

• Gold testing the weekly support levels.
• But four hour chart of gold is showing a possible Falling wedge pattern which is a bullish reversal pattern. For it to work well price need to hold on to the current lows near 1550 and bulls must hope for a breakout above the falling resistance line of the wedge shown in last chart.
• SILVER HITS LONG TERM TREND LINE

SILVER Hits the long term trend line

• Silver at make or break levels. 
• Price hits the long term trend line and crucial weekly horizontal support line. Trading below 26.02 could lead to the 78.6% Fib level shown in last chart. A bigger fall is possible only if price falls below this level.
• Crucial support levels can also give an over sold bounce.
• JP MORGAN CHASE RESISTANCE LEVELS

SPY Descending triangle

• SPY Hour shows a possible descending triangle pattern.
• Breakdown below 130.85 levels could close the GAP in hour chart and possibly test the recent lows.
• For bulls price need to stay above the resistance line and trade above 50 Hour SMA to avoid a breakdown.
• JP MORGAN CHASE RESISTANCE LEVELS

JP Morgan Chase Resistance levels

• JPM Near 50 Day SMA, Daily Ichimoku cloud and 38.2% Fibonacci levels.
• Confluence of resistance may stop the advance of bulls for now.
• Close above these levels could target the GAP area. Negative close today may take the stock back to 23.6% fib level and below it.
• S&P 500 ANALYSIS AFTER CLOSING BELL