DAILY CHART
WEEKLY CHART
- Four hour is nearing a resistance line
- Weekly chart shows price continue to find support near 20 Week SMA.
- Weekly chart will favor bears of silver only if it starts to trade below 31.57. Sustaining above 20 week sma should result in a breakout above the resistance line shown in first chart.
- Rimm chart shows price trending down below 100 Day SMA and Ichimoku cloud.
- First chart shows fibonacci levels as resistance.
- Breaking above 38.2% Fib level may lead to 100 Day SMA and the cloud. For a sustained up move price has to sustain above these tough resistance levels.
- BANK OF AMERICA WEEKEND UPDATE
- Silver one hour with support and resistance levels.
- Silver four hour chart shown with a bearish channel. Price has to breakout of the channel for a bigger pullback to happen.
- BANK OF AMERICA WEEKEND UPDATE
CHART-II
- Break of 5281 gave a good short trade as discussed in the below chart.
CHART-I
- Nifty hour shows 50 Hour SMA coming closer to 200 Hour SMA. It can be a fast fall or if today's lows are held we may see an up move which may lead to a bullish crossover.
- 5 Minutes chart shown with ichimoku cloud. Falling below 5281 will favor intraday bears. Sustaining above the cloud may give a bullish trade.
- 50 Week SMA is crucial for bulls and bears. Trading and Closing above this level will keep it safe for bulls as this pullback after the breakout can be termed as a consolidation after an up move which mostly ends up as a continuation pattern. Closing the week below this level will make things weak for the bulls.
- For a larger up move or a stronger bull, price has to close above the weekly Ichimoku cloud. So this zone is kind of in between a stronger bull or a back to bear market kind of zone as shown in last chart. which may get resolved when the larger support 5171 or the important resistance 5629 gets taken out.
- 50 Day SMA near 5220 will be an important support in daily chart. 20 Day SMA near 5393 will act as resistance.
- BANK NIFTY WEEKEND UPDATE
