S&P 500: Ascending Triangle

• The ascending triangle mentioned below has given a breakout. An hour closing above 1170 and trading above this level will give 1180(futures) as first target.

CHART-I

• S&P 500 Futures hour chart is showing an ascending triangle in its hour chart.
• Breakout level is around 1164.
• A nice breakout above 1164 with good volumes will favour the bulls.
• Trading below 1155 will be negative and will favour the bears.

S&P 500 Futures before opening bell

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CHART-II

• 1160 levels is acting as resistance as discussed below. 1151 is acting as support. So this range should break for the next move to happen.

CHART-I

• S&P 500 Futures has taken support at 1151 levels today. Further breakdown is possible if price violates 1151 levels.
• Price was trading at a range of 1160 - 1164 levels. Breakdown below 1160 has given 1151.
• Now 1160 may act as resistance.
• EURUSD BREAKS THE CHANNEL
• GOLD HOUR IN A RANGE

GOLD: Hour chart in a range

CHART-III

• GOLD Breaks out of the range and exceeds the target.

CHART-II

• Gold has taken support at the levels mentioned below. It is rallying to the top of the range at 1355. Breakout above 1355 will target 1364 levels.

CHART-I

• Gold Hour chart is in a range of 1339 - 1355.
• An hour closing outside this range will give a clue to which side gold is going to move.
• EURUSD Channel breakdown

Nifty Futures Intraday update

CHART - III

• An hour is yet to close below 6090.
• But the fact that 6090 is violated should make the bulls worried.

CHART - II

CHART - I

• Nifty Futures has violated the trend line in hour chart as shown in the first chart.
• Next chart shows important level at 6091.
• If 6091 breaks we will move to the lower end of this trading band

Nifty daily analysis

• Nifty spot for  a brief period was above the 5 day EMA. But was not able to sustain above 5 day ema and got sold off. In the process it has given a candlestick with a long tail. This one looks looks like an inverted hammer.
• I have drawn support and resistance lines in the daily. The current correction may end near the support line making this a triangle. Breaking above the line can give new high's for nifty.

S&P 500 Analysis after closing bell

• S&P 500 daily chart has given another Doji candle. We had one candle last week. Doji indicates indecision. 
• Price is trading well above 10 DMA. First signs of weakness will be visible only if price makes a close below 10 DMA.
• Daily chart is also showing an interesting pattern. Price is converging between the resistance and support line which should be resolved soon.
• S&P 500 INTRADAY CHART WITH EMA