CHART-II
- Descending triangle has broken the support line. So far its looking good for bears. This may go down till 100 Hour SMA. More pain for bulls if that level does not hold
CHART-I
- Break of support line may give good short trade for bears.
- Breaking above the resistance line will negate the bearishness of this pattern.
- I hope for bears it works well like the previous Descending triangle shown in this chart.
- Price staying above 50 Hour moving average will favor bulls of SPX
- Break of these support or resistance lines may give good direction.
CHART-I
- Range mentioned below has held for the day.
- Price may move towards the upper end of the range from here.
CHART-II
- NF is in a 90 point range.
- Price is near the lower end of the range.
- Larger move will be possible only after this range gets resolved.
- On the down side price has to stay below the small GAP for bigger falls to happen.
- Staying the dotted trend line may favor bulls.
- 50 Day SMA is looking like a strong resistance level. Price reversed before approaching this moving average.
- Hour chart has closed above 50 Hour moving average. Chart looks overbought in hour time frame. if price slides below 50 hour moving average we may see a bigger fall.
- The way price violated and closed below 20 day moving average shows weakness at higher levels. Bullish strength will be visible only if price is able to close above 50 Day SMA.
- GOLD RESISTANCE LEVELS
- SILVER RESISTANCE LEVELS