SPY Support and resistance levels

CHART-II

CHART-I

• SPY 5 minutes chart with two ranges.
• The smaller range is between  117.83 - 118.71.
• The larger range is between 117.26 - 119.11
• Large movements will be possible only when these ranges gets violated

Microsoft Near 200 DMA

• Microsoft was above 200 DMA for sometime today. But stock was not able to stay there.
• 26.91 is also a good resistance area for the stock.
• So further up moves will be possible only if the stock closes above 26.91 and the 200 DMA.
  
  

USDJPY Testing the lows again

• USDJPY is testing the low of 80.40 again.
• Breaking 80.40 will be negative for the bulls.
• This area may act as a support zone as well

S&P 500 5 minutes chart with a DIAMOND

• S&P 500 5 minutes chart with a diamond pattern which is slightly out of shape. But still the pattern touches the trend lines on all sides.
• Price has entered the pattern from the top trend line. So a break of the support line can be expected for this one. But one has to be cautious because of the time frame, it has come in the 5 minutes chart so reliability is less.

EURUSD Hour chart analysis

• EURUSD four hour chart with candlestick patterns.
• Correction from 1.40 region was after the Gravestone Doji that was shown at the top.
• Now we are seeing a Dragonfly Doji which is bullish.
• Price need to cross 1.3952 for turning bullish again.

Dow Jones futures before opening bell

• Dow Jones Futures is showing a triangle pattern.
• Things will turn positive for bulls above 11150
• Bears would like to see 10960 broken.
• So a break of the triangle along with the levels mentioned above can give good momentum for the index.
• GOLD MAY GO UP IF TRADES ABOVE 1350 - CLICK HERE FOR THE CHART
  
  

S&P 500 futures before opening bell

• ES in a range of 1162 - 1182 with attempts to breakout and breakdown.
• Those attempts to move ahead have failed so far and price is still in this range.
• It seems Market is waiting for some big news for making the next move. Only a daily close outside this range can confirm a breakout or breakdown.
• TRIANGLE OF DOW JONES
  

Nifty Futures Intraday update i

• NF showed a negative breakdown and now back above the support line.
• Bulls will gain momentum only if they stay above the red line and the most important trend line the black one.
• Price should trade above 6100.

GOLD: Rally possible above 1350

• Gold dipped a bit in the past few weeks. But it seems the trend line will hold.
• If the trend line holds and if 1350 is crossed a good rally can be seen in this commodity.
• ASCENDING TRIANGLE OF SILVER
  
  

SILVER: Support and resistance lines

CHART-II

• Breakout from ascending triangle crossed the first resistance at 24.50 and closed above it. the closes seems to be strong, so price may cross 24.91 next week.

CHART-I

• Silver 4 hour chart with support and resistance lines
• 24.07 is an important resistance are for silver.
• above 24.07 main resistances are 24.50 and 24.91.
• An Ascending triangle has formed in this chart.
• GOLD MAY GIVE A RALLY ABOVE 1350 CLICK HERE FOR THE CHART
  

Nifty Futures Intraday update

CHART-II

• The Descending triangle gives a support line break favouring bears.
• Now the larger fall will be possible if 5937 breaks

CHART-I

• Nifty futures 30 minutes chart with a descending triangle.
• Pattern also shows two false breakdowns. 
• Bears may be lucky the 3rd time. If they does not do a big breakdown soon a sharp up move is possible.
• Descending triangles are known to break below favouring bears Lets see how this one goes.

Nifty Daily Analysis

• First chart shows a negative candle at the top of the range and after that there was not a single day which closed above 5 day high EMA. Most of the action shifted to 5 day low ema giving chance to sell on rise.
• Next chart shows price closing below 20 DMA. Shortly if this down move is not stopped price will have an encounter with 50 DMA.
• The best trades are done when two or more set ups come together. Look towards the left side corner of the chart A HAMMER ON THE 50 DMA which is an easy long to take with a small stop loss.
• We had a similar set up in nifty futures intraday chart. A Trend  line and the 50 hour moving average came together to pull the index down.
CLICK HERE FOR NIFTY FUTURES CHART