- ES nears 200 Day SMA. 4 Hour chart also shows previous resistance zone and Golden ratio which may act as support for a bounce. to happen. For now though price is not taking a pause. Doji candles at the above mentioned levels may arrest the fall of ES
- Immediate support for bank nifty at 20 Day SMA. Bears need a close below this level for bigger falls to start. Daily MACD is also suggesting weakness but price need to stay below 18600 levels.
- Weekly cloud continue to act as support. bigger weakness only on price closing into the weekly cloud.
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- Daily chart shows price moving towards the falling resistance line. Price seems to be moving in a large bearish descending triangle pattern. Within this bearish pattern price is in a bullish phase for now. Bullishness is likely to get weak near the falling resistance line.
- Nifty bears failed to take price below 20 Day SMA. Weakness only if price moves below the rising support line shown in first chart.
- Next hope for bears is the golden ratio shown in last chart. Bulls need to clear this for bigger up moves to follow.
- Correction seen after negative divergence with MACD Histogram and price. Chart 2 and 3 shows possible support zone which should be broken by bears to extend gains. Unable to move below 20 SMA should favour bulls.
- ES one hour testing the cloud.
- 4 Hour chart shows price pausing at previous resistance zone.
- Daily chart is out of the range But price is pausing near the recent high's. Weakness here may take price back into the daily range again.
- First chart shows how bulls avoided a Death cross from happening with a powerful reversal from 17174 level. This up move is still intact but price is showing signs of weakness which is not confirmed yet. Weakness is seen at the Golden ratio along with negative divergence in MACD Histogram.
- Bears need a daily close below 18860 levels for a possible extension of weakness.
