Crude oil IHNS Update

• Crude oil has moved above the neck line of IHNS pattern.
• Now the patterns success will be based up on Range top. One should wait to see how price react at range high in Daily time frame.

GOLD Trend update

 

 

• Gold 4 hour looks like a possible Inverted head and shoulders pattern. which is bullish.
• But Daily is still below 200 SMA.
• Even if gold bulls manage to cross 200 SMA they have to do more as the Weekly cloud may act as stiff resistance. So till price crosses the cloud Gold bears are safe.
• APPLE TRIANGLE BREAKOUT

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ES 4 Hour chart update

• ES 4 4 Hour chart shows price moving out of the Descending triangle. For bears the direction of breakout is in the wrong direction
• For this time frame price is testing a crucial resistance zone. Bigger up moves possible on closing above 200 period SMA.
• Price continues to remain range bound.

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CRUDE Oil inverted head and shoulders

• Crude oil 4 Hour chart has a bullish pattern.
• Daily chart though is still inside the range. Any bullish attempt in 4 Hour must get a follow up in the Bigger time frame. for bulls of crude oil needs a daily close outside the range.
• APPLE TRIANGLE BREAKOUT

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APPLE Triangle breakout

• Apple hour chart shows triangle breakout.
• 50 Day SMA continues to act as strong support.
• 4 Hour is above the cloud. Bulls need a close above the 4 Hour cloud to extend this up move.

SPY Weekend update

• Price taking support around 50% Retrace level.
• Daily chart is looking like a bearish Descending triangle pattern. 
• If 50%  Retrace level is gone in closing basis then SPY may test its 200 Day SMA.
• Bulls need the "W" Pattern to complete for bigger up moves to happen.

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S&P 500 Futures chart analysis

• It was a perfect confluence of resistance with Multiple time frames. 4 Hour had the resistance line and One hour had 200 SMA as resistance at the same time. Perfect entry for a short trade.
• Now bulls must hold above the support zone shown in last chart to avoid bigger correction.
• SILVER CHART ANALYSIS

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