- The horizontal support line is the last hope for bulls. Price staying below this will further damage the technical's in favor of bears.
- 200 Period SMA toos is important for this time frame. Price if manage to stay above this line may result in a bounce.
- GOLD CHART ANALYSIS
- SILVER CHART ANALYSIS
My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
November 17, 2011
S&P 500 Futures Chart Analysis
ES Chart Analysis
- ES Daily is near previous resistance level which has given good support till now.
- 2nd chart shows the diamond and triangle patterns. Breakdown from the diamond pattern gave a nice down move. But the triangle is yet to show its effect. Failing to fall below 200 Period SMA might result in a bullish move.
- For bears price has to break below 200 Period SMA.
- GOLD CHART ANALYSIS
NIFTY Analysis
- Price has taken support at Lower bollinger band and the Golden ratio. But it has to show follow up buying for confirming strength.
- Breaking below yesterdays low will favor bears to extend gains.
- USDINR MOVING UP WITH NEGATIVE DIVERGENCE
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