- Hindalco continues to fall in a straight line.
- Price is near crucial support levels.
- Weekly indicator is at oversold levels But yet to show signs of reversal there could be more falls if price breaks 100 level
- Last chart shows the possible target for the current fall.
- BANK NIFTY CHART ANALYSIS
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- First chart the 4 Hour time frame shows price getting resisted at 200 period SMA.
- One hour chart shows the resistance at previous support level and Fib level shows the same at 38.2% Fib level.
- 4 Hour close above 200 period SMA should lead to a bigger pullback. Testing the lows could lead to an extension of the fall.
- GBPUSD CHART ANALYSIS
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- Ford Motor in a descending channel and price approaching the up trend line as shown in the first chart.
- Second chart shows price falling towards 100 Day SMA. Last chart shows price testing 38.2% Fib level.
- This correction is likely to end at the up trend line or 100 Day SMA and a Bounce towards 23.6% Fib level is likely to happen.
- EURUSD CHART ANALYSIS
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- GBPUSD Monthly chart shows a bearish breakdown from a triangle pattern.
- Daily chart too shows a Double top breakdown.
- Weekly chart shows price at a possible Support line. Holding this line a bounce is likely to happen.
- As we approach month end if the monthly trend is to become stronger then Weekly support line is unlikely to hold.
- EURUSD CHART ANALYSIS
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- EURUSD Weekly chart shows the trend line violating from 1.20 levels.
- Price falling towards crucial support of 200 Day SMA.
- Confluence of support at 50% Fib level and 200 SMA may act as strong support level.
- ES CHART UPDATE
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- QQQ Daily chart shows price testing 100 Day SMA.
- Below 100 SMA and 66.17 price could fade the GAP shown in second chart.
- Last chart the weekly time frame shows a possible bearish Head and shoulders pattern. For now price may move towards the rising trend line from 50 levels.
- SPX ANALYSIS AFTER CLOSING BELL
- IWM SUPPORT LEVELS
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- ES 4 Hour chart is consolidation below 200 Period sma. It was a similar price action yesterday which was below 100 Period SMA.
- 4 Hour has clearly fallen below the Ichimoku cloud which will put pressure on bulls at higher levels.
- One hour chart shows another bearish flag kind of consolidation which happened yesterday.
- SPX ANALYSIS AFTER CLOSING BELL
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