CRUDE Oil chart analysis

• Crude oil triangle which was discussed yesterday has moved in favour of crude oil bulls. Now Bulls need a daily close above 200 SMA.
• Price is yet to violate crucial support levels like 20 Day SMA or 4 Hour cloud.

Nifty chart update

• Two weekly candles at 7960 amd 7997 levels looks almost like two pillars holding a building. Although this up move looks bullish the pattern that is forming is a possible bearish head and shoulders. If 8355 is taken out up move may target the Golden ratio for the entire fall from 9119 level and thus completing the HNS pattern. Its only a possibility.
• Immediate resistance at 20 day sma and 8355 levels as shown in daily chart. Daily close above these levels will keep the bulls stronger.  

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CRUDE Oil chart update

• Crude oil 4 hour chart price contraction in a triangle pattern. Price is stuck between 200 and 20 day sma. Daily close above or below these lines may give good direction for Crude.

Silver triangle pattern

 

• Silver daily and weekly chart shows price contraction and may result in bigger moves soon. 200 Day SMA is the immediate resistance line in daily chart. Silver bulls need a close above this line for a breakout in their favour.

INFOSYS Chart analysis

• Infosys is testing crucial price pivot zone (1890-1930). This area has acted as both resistance and support earlier.
• Price in weekly chart is nearing the cloud which gave support for the earlier fall. But for a decent bounce to happen price need to stay above 200 SMA. 

Facebook weekend update

 

• Facebook at 200 SMA, Daily indicators are oversold, This combination may result in a bounce provided stock stays above last weeks low.
• Weekly chart shows a possible rising wedge. Price if stays below the support line may lead to bigger falls.

NIFTY Weekend update

• Nifty stood above 7961 which was the earlier support level. Long shadow of the weekly candle suggests support near this level.
• 8355 level is crucial for bulls to cross. Sustaining above this zone will add strength for this bounce.
• Price continues to stay below 200 SMA which is a problem for bulls.
• Recent RSI signals have done well. Current signal will work well only if price can stay above 8355 levels.