- Gold daily shows a triangle pattern. Volatility likely to increase as price is likely to move out of the triangle soon. Price sustaining below 200 SMA will favour gold bears. Any bullish moves are likely to be small as price in weekly chart is trading close to the cloud which has been acting as strong resistance for many months now.
- FACEBOOK BEARISH ENGULFING
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- Tata Motors daily chart continues to give new lows and staying below the cloud. no possibility of a bigger reversal till price stays below daily cloud.
- There is hope for a reversal as price nears monthly cloud. But that will remain a hope till we see a monthly bullish candle at this level.
- Weekly chart shows price testing crucial support zone at 300. Below this level bigger corrections are possible. Bulls need to stay above this zone.
- Facebook daily shows a bearish possibility. MACD shows a possible bearish cross in the making which may give a correction.
- Weekly trend continues to remain intact above the cloud. Few weeks back the cloud was tested but it acted as strong support. So unless break below weekly cloud bigger corrections will not happen.
- Apple near resistance levels in daily and weekly time frames. For apple bears price needs to stay below 50 week sma.
- ES Daily in a small range between 23.6% And the golden ratio.
- Week is consolidating below 50 Week SMA. As long as price stays below this line there is a chance of a bigger fall in favour of bears.
- Month chart shows the possibility of a fall towards 1500 - 1600 zone if price breaks below 23.6% Fib level.
- Month is bouncing from 38.2% fib level as shown in 3rd chart, Only below this level bears can hope for bigger down moves to happen.
- For the up trend to resume price must move above the weekly cloud.
- Immediate resistance shown in first chart the GAP between the golden ratio and 50% Retrace level.
- Apple daily continues to stay below daily cloud.
- Immediate resistance at golden ratio which is around 117 levels.
- Month chart shows a topping pattern. weakness below 107 levels. Below 107 price likely to test 92 levels again. Structure will remain bearish below 122 levels.
