GOLD Weekend update

 

• Gold has closed above 50 Week SMA.
• Price has also closed above weekly falling resistance line.
• Last two charts shows levels which may act as resistance. If price breaks these two levels on closing basis we may see a bigger up move in gold.
• S&P 500 WEEKEND UPDATE

MCX CRUDE Oil weekend update

 

 

• Crude oil shows  a bearish candle at golden ratio
• Daily chart too closed below 200 Day SMA.
• If price sustains below these two resistance levels we may see correction in the coming weeks.
• Last chart shows possibility of a bigger move which is possible if price starts to trade above last weeks candle. Price breaking below 50 Week SMA which is near 95 will favor bears of crude oil.
• S&P 500 WEEKEND UPDATE

S&P 500 Weekend update

• SPX Shows a MACD Sell signal after negative divergence.
• Sell signal will be effective only if price starts to trade below 20 day SMA. For now price is getting support at 20 Day SMA.
• Last chart shows strength above 1406 and 1422 which are resistance levels. For a possible breakdown price must fall below the rising support line from 1266 through 1331.
• GOOGLE RESISTANCE LINE AND NEGATIVE DIVERGENCE

NIFTY Weekend update

• Daily chart shows support at previous resistance levels of 5342 - 5348. Bears need to break below this level for  a bigger down move to happen.
• Daily MACD is moving towards a sell signal. Price moving above 5448 will negate this view.
• 78.6% Fib level of 5629 - 4770 is acting as resistance for now.
• The weekly candle looks like a bearish shooting star. A perfect shooting start would have the opposite color of the prevailing trend Red candle in this case and a bigger shadow or tail. So the significance of shooing star looks less. Weekly chart will show weakness below 100 Week SMA. 
• RELIANCE CHART ANALYSIS

EURUSD Channel and Resistance levels

• EURUSD Four hour chart moving up in a channel. Price near the resistance line of the channel.
• Daily chart is nearing previous support zone which may act as resistance.
• Weekly chart need to close above 20 Week SMA for the up move to continue.
• GOOGLE RESISTANCE LINE AND NEGATIVE DIVERGENCE

GOOGLE Resistance line and Negative Divergence

• Google Weekly chart testing crucial resistance line.
• Daily chart is showing negative divergence with MACD Histogram and Price. MACD lines too is closing in on a sell signal.
• But price is yet to show any weakness in daily chart. breaking the up trend line and 662 levels may start the correction in favor of bears.
• APPLE NEGATIVE DIVERGENCE

APPLE Negative Divergence

APPLE DAILY CHART WITH MACD

• Apple hour trend continues to favor bulls as it trades above 50 Hour SMA. Weakness only if price starts to trade below 50 Hour SMA.
• Major support for bulls is 644 which was the previous resistance. Falling below 644 would favor bears for a bigger fall.
• Last chart shows negative divergence. But price continues show strength so predicting the fall will be costly, let the price show weakness before taking shorts.
• GOOGLE RESISTANCE LINE AND NEGATIVE DIVERGENCE