GOLD Chart update

 

• Gold weekly chart shows price testing the cloud. Gold bears need a bearish candle at the cloud.
• 4 Hour chart shows Higher Highs and lows. Price yet to give a lower low for the current up move.
• Weakness on price closing below the hourly cloud.

ES Chart analysis

• ES Daily chart shows price holding above 200 Day SMA
• 4 Hour chart shows price contraction. closing outside these lines may give faster Directional moves for ES.
• 4 Hour chart shows price trying to move above the cloud. Last attempt to stay above the cloud failed.

RELIANCE Industries chart analysis

• Reliance industries if stays above the weekly support line shown in first chart can give bigger up moves.
• Price is stuck in a descending channel as shown in second chart. Bulls need price to breakout of this channel.
• Staying above 930 will favor reliance bulls. Weakness continues below this level.

SILVER Chart update

• Silver trading above the falling resistance line.
• 18-19 zone and the weekly cloud will be big test for silver bulls.
• Medium term trend can only turn bullish on closing above these levels.

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GOLD Chart update

• Gold daily extending gains above 200 SMA.
• As price moves up it is nearing crucial weekly resistance zone.
• Gold bulls need a weekly close above this zone for bigger up moves to happen.

CRUDE Oil chart update

• Crude oil bulls trying to form a base. Daily chart shows positive divergence. For crude oil bulls price need to stay above the cloud and 20 Day SMA For a bigger bounce to happen.
• Black up trend line shown in first chart is crucial. Weakness if price starts to trade below this line.

ES 200 SMA Analysis

• ES 200 Hour SMA acting as immediate resistance.
• Daily 200 SMA is acting as support so far. Although price closed below this line, Bears for now seems to have lost momentum
• Support zone shown in 4 Hour chart continues to be crucial. Staying above this level may give an up move.