- GOLD Daily chart shows price moving towards the trend line.
- If the trend line is held an upper breakout is possible
- Four hour chart shows price in a triangle
- Crucial support here is 1792. If this number is held an upper breakout is possible
- Price breaking the trend line and staying below 1792 may give a correction.
- SINA has hit its weekly resistance line.
- One can remain short from near the resistance line with small stop loss
- Risk reward ratio favors a short trade at this level.
- SPY HITS RESISTANCE LINE
CHART-II UPDATED
CHART-I
- SPY hits the resistance line at 118.60 and starts to come down.
- Price has to stay above this resistance line for an up move to happen.
- Failure to stay above the resistance line and falling below 117.56 may result in a bigger correction.
- SPY RESISTANCE LEVELS AND GAP - YESTERDAY'S POST
- ES Hits 200 SMA for four hour time frame
- Twice this line has helped bears with a correction
- Now for the up move to continue price has to sustain above this level. 1203 will be the next resistance level if price manage to breakout.
- SILVER REFUSING TO CLOSE BELOW 50 DMA
- Daily candles are violating 50 SMA But they are not able to close below it.
- Correction can sustain only if price makes a close below 50 SMA
- Nifty futures moving into resistance zone.
- Further up move will be possible only if price able to sustain above 200 Hour and 50 Hour moving averages.
- This level will be challenging for bulls.
- SBIN Weekly and Daily chart is moving down in a channel.
- Daily chart shows price trending down below 20 day simple moving average.
- Channel in daily chart is hinting the end of this down move. But Fibonacci levels suggest some more pain for bulls.
- Breakout above the daily channel or a close above 20 day moving average may give an up move.
- GAP and Resistance line may favor bears for a correction. Price may start to correct without filling the gap.
- For bulls price need to break above the GAP and the resistance line.
- GOLD SUPPORT AND RESISTANCE LEVELS
