- ES 15Minutes chart with 50 period Moving average.
- Price is moving in a range of 1324 - 1329 after the up move.
- Price is approaching 50 period moving average. We may see an up move from this level. For the trend to continue 1329 has to be taken out by bulls.
- Sustaining below 50 period moving average or 1323 will favor bears for a correction.
- GOLD CROSSES $1500/oz
- Gold has crossed $1500/oz
- This move may not stop with 1500.
- Seeing the range of the pattern from which Gold has given the breakout one can expect higher target for Gold.
- After a small retrace price may target $1550 and above.
- SPY Hour has given a breakout from the channel.
- But price has left a big gap in hour chart. We may see a partial filling of the GAP before price runs up again.
- Bulls will be in trouble only if price falls back into the channel which is not likely to happen.
- ES Daily chart is moving away from 50 day moving average. Last two candles are showing bullish momentum. But price is approaching resistance line of a triangle. It also looks like the neckline of an inverted head and shoulders.
- 1336 and 1342 levels are resistances in daily time frame. Price has to sustain above these levels for the bullish momentum to sustain.
- AAPL BREAKS THE CHANNEL
CHART-II
CHART-I
- Nifty 5 Minutes chart with the Morning GAP and today's range.
- Sustaining above 5806 will favor intraday Bulls.
- Below 5782 the GAP will start to fade.
- Nifty managed to close above 200 day moving average. Current correction is yet to close below 200 day moving average.
- Price in weekly chart is staying above 20 week moving average. If sustains above this level we may see a rally. Falling below it will favor bears.
- Important support zone for now is between 5654 - 5696
- NIFTY WEEK IN A TRIANGLE PATTERN
- Price closed near the high of the day and near 50 day moving average.
- Hour chart too closed at the 50 Hour moving average. This moving average has acted as Resistance in the past.
- For bulls to change the trend in hour chart, Price should close and sustain above the Channel formation.
- AAPL Breaks the channel
