ES Charts before opening bell

• Bounce from 200 SMA is helping bulls for now. But Bulls need to get back above hourly cloud to stop a bearish reversal from taking place. Bears need to keep price below hourly cloud to resume correction. Bigger fall only on hour closing below 200 SMA.

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ES Chart Analysis after closing bell

• Hour cloud shows price violating the cloud and falling back to its 200 Hour SMA. More weakness for ES Bulls on price closing below 200 Hour SMA.
• Daily candle too shows weakness for ES Bulls.
• GOLD Hour chart analysis

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GOLD Chart analysis

• GOLD Hour trying to turn up 
• Gold bulls need to stay above the hourly cloud to extend the hourly reversal.
• Price likely to move towards 1266 - 1270 zone as shown in daily chart.

ES Support levels

• ES one hour time frame with immediate support levels.
• Bears need a close below hourly cloud for an hourly down swing to start.

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ES Hour chart update

• One hour chart shows weakness at the top.
• Another close below 50 Hour SMA may result in correction.

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ES One hour Trend update

• ES Bulls continues the bullish move in a Bullish channel. 
• Moving averages too shows no weakness for the bullish alignment.
• Weakness for Hourly bulls only if price starts to trade below 50 Hour SMA.

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NIFTY Chart analysis

• Nifty daily is in a bearish channel. This could change to a Bullish flag as well.
• Weakness may resume if price falls below 20 Day SMA.
• Week took support at 20 Week SMA to avoid major weakness. Now major trend will resume if price sustains above 10400 levels.

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