AMAZON in a Triangle pattern

• Amazon 30 Minutes chart in a triangle pattern.
• Price in daily chart gave a big breakout recently. So an upper breakout will be an easy long trade to take.
• Since it is a triangle beware of whipsaws.

SLV - Immediate Resistance levels

• SLV Hour may give a green candle. But hour chart has immediate resistances in the form of a GAP that was formed yesterday. GAP is between 36.89 - 38.01.
• Then 10 bar and 20 bar Hourly moving averages are acting like strong down trend lines. Unless these levels are taken out by bulls a Meaningful pull back is not possible.
• SLV ANALYSIS AFTER CLOSING BELL
  
  

ES Hour chart analysis

• ES One hour chart has broken above its 50 Hour moving average.
• But price may find resistance near its 200 Hour moving average.
• So this area of 1348 - 1349 will be crucial for bulls to cross and sustain above.

USO Chart analysis

• USO has broken its 50 day moving average and closed near day's low.
• Momentum may take price close to its 200 day moving average near 37 levels.
• Weekly chart shows trend line support between 35 - 36 level.
• Week chart shows USO in a broad trading range from 22 - 45 level with 32 as the important support resistance level.
• SLV ANALYSIS AFTER CLOSING BELL
  

NIFTY Bulls saved by Golden Ratio

CHART-III

CHART-II

CHART-I - DAILY TIME FRAME

• 50% Fib level is acting as resistance.
• Up moves will be possible only on breakout above this level.
• GOLDEN RATIO POSTED YESTERDAY
  

Nifty Daily Analysis

• Nifty Week shows price approaching the support line of the triangle formation in weekly chart. For a perfect touch on the support line to happen nifty should break 5400.
• Stochastic in daily chart and other indicators are showing oversold status which can give a trading bounce. But if this is a bigger trending market then the oversold indicators will stay oversold and Nifty will continue to move down.
• Nifty week line chart shows good support between 5300 -5450 level.
• EURUSD CORRECTION IN A BULL MARKET
  

SLV Analysis after closing bell

• SLV has closed way below its 50 day moving average.
• Next important support lies near 29 Level.
• Supports in a bear market may not act meaningfully. Price is tumbling down, Hour chart shows the vertical fall clearly.
• So unless price decides to consolidate near the support levels this fall will continue. We had the 6th Red candle in daily chart in a row and this was a big one which closed near days low. 
• Conclusion More pain for bulls of SLV.

EURUSD Correction in a Bull Market

• EURUSD pair has given a breakdown from the range it was trading in hour chart. Price has also fallen below 200 Hour moving average. These two support levels may act as resistance levels now.
• Daily chart shows good correction, But Price has not violated the trend line yet. Unless price violates the trend line this can be considered as a correction in a bull market.