- ES is hitting the cloud in daily time frame.
- For moving down further price should break the cloud.
- Price is staying below 50 DMA which is good for bears.
- Bulls need to come back above 50 DMA for a turn around to happen. Price sustaining below 50 DMA will continue to favor bears
- Description is given in the chart please click the chart to enlarge.
- Nifty spot 15 Minutes chart with the morning GAP
- If 5417 is not broken today we may see the GAP getting filled completely.
- Below 5417 and 5400 Bears will be stronger and a breakdown towards 5350 is possible.
- See the marked area in chart which is the golden ratio which has been saving bulls for the past three weeks.
- Price has violated this level 3 times but was not able to close below it.
- If bears are to extend gains they have to close the week below this level.
