CRUDE OIL Resistance Line

• Crude oil four hour chart with a resistance line.
• Bulls of crude oil should breakout above this line for a target of 102.
• Getting stuck below this line may result in a correction.
• MCX Crude oil chart below this post

S&P 500 Futures Chart Analysis

• ES Daily chart shows price testing 200 SMA. Bulls have failed at this level many times in the recent past. So only if price sustains above the dotted line we may get a real breakout.
• 200 Period SMA of Four hour time frame may act as an important support level which bears need to break in order to trigger a bigger correction.

GOLD Chart Analysis

• Gold Fibonacci levels for the fall from 1763 to 1560.
• Price will be weak below 1600.
• An up move towards 1666 level if 1641 is taken out.
• See MCX Gold chart below the post

Nifty intraday Update

CHART-III

• Price has broken yesterday's high. Now closing near day high or above 4707 will help bulls to extend gains.

CHART-II

• Price has crossed 50 Hour moving average which was shown in the below chart.
• Day low acted as support(4634)
• Now for bulls price should stay above yesterday's high of 4707.
• Weakness below today's range high 4677 from which the breakout happened.

CHART-I

• Nifty is not able to cross 50 Hour SMA decisively.
• Strong up move can be seen if price sustains above 50 hour SMA.
• Recent fall took place from 50 hour SMA So one should watch today's low for a possible breakdown.
• Strong above 4677, weak below 4634.

NIFTY Resistance levels

• If yesterday's move is to continue price has to break above 4750. 
• Price has to close above 5 Day High EMA and move above 20 day SMA for a sustained up move to happen.
• Stochastic is yet to turn up above the oversold line. If it moves above the oversold line price will gain further momentum.
• 5 Day High EMA is at 4718
• GOLD CHART ANALYSIS
  

GOLD Support and Resistance levels

• 200 Day SMA is acting as resistance.
• 50 Week SMA is giving support.
• Weekly chart has a descending triangle kind of pattern.
• Support is between 1540 - 1560.
• Break below the support level on closing basis will favor