- Crude oil in a symmetrical triangle pattern.
- Resistance levels is near 88
- Main support at 79 levels.
- So breakout should takeout these levels for bigger moves to happen.
- Silver hour chart with 200 Hour moving average.
- Attempt of bulls is getting rejected at 200 Hour moving average.
- Bigger up move will happen only if price is able to break above 200 Hour moving average.
- Falling below 39.90 levels will favor bears.
- If SLV is to move up from here it has to break above the 50 Hour moving average and stay above 40.37 levels.
- Price is moving in a range. Price staying above 40.37 will favor bulls
- Price staying below 50 Hour moving average will favor bears.
CHART-II
- Price having taken support near the support line of the triangle is back near the resistance line. If the line gets tested the momentum looks good enough to give a breakout on the upside.
CHART-I
- ES Four hour chart in a triangle pattern.
- This consolidation is taking place after a big down move. So this can be classified as a bearish consolidation pattern.
- A clear trend would emerge if ES breakout above 1188 or break below 1111.
- Price staying below 50 period moving average will help bears.
- PIN BAR OF S&P 500
- Nifty breaks the recent low of 4796 and gave 4720 for bears.
- Now nifty continues to be weak, will make another low when 4720 gets broken.
- For bulls price has to go back and close above 4796 again for strength to return.
- Nifty hour with positive divergence
- Price making lower lows while macd bars making higher low.
- But price may go down further before turning up again.
- Nifty is sustaining below the resistance line shown in hour chart.
- Price is also trending down below 50 Hour moving average
- Turnaround might come if nifty is above to stay above the resistance line and close above 50 Hour moving average.
- SBI Continues to be in a strong down trend.
- Range breakdown will cause more pain for the bears of SBI.
- Stock is oversold but the bounce is not happening.
- Price is trending down below 10 Day moving average.
- Closing above 10 Day SMA may show hints of a turnaround till then its better to stay short.
- Monthly chart shows that this fall is likely to be stopped at or near the lower bollinger band in monthly chart.
- Weekly RSI has also gone below 30% line
- We will know the reversal signs from Daily chart were the stochastic is refusing to move above 20% line so far.