- Silver breakout has hit resistance at swing high
- Price still inside the range between 26.11 - 28.45
- Silver bulls need a cloud breakout for an extended up move.
- For now price is testing the trend line which was broken earlier. Taking support here an up move looks possible.
- GOLD FALSE BREAKOUT
- GOLD Daily chart shows a false triangle breakout.
- Price sustaining withing the triangle pattern may save bulls from a bigger fall.
- Earlier price got resisted near 200 day SMA.
- Not breaking below the daily cloud may result in a pullback in favor of gold bulls.
- ES CHART ANALYSIS
- CISCO near daily resistance line
- 50 Day SMA will act as resistance level.
- Down trend will be strong below the daily cloud.
- ES Daily shows a bearish engulfing pattern.
- ES one Hour charts shows a range.
- Price need to resolve this range for a bigger move to happen.
- Nifty month chart failed to confirm upward momentum by closing below 5 Month High EMA and the falling resistance line.
- Weekly chart is testing 5 Week High EMA. Week has to close above this moving average and the resistance line to confirm a breakout.
- Daily is trading above 5 Day High EMA and 20 SMA. Daily is also trading near golden ratio which should be crossed on a closing basis
- TATA MOTORS CHART ANALYSIS
- Tata motors near daily resistance line.
- Price also near 50 and 200 SMA which are ready for a bearish cross. 236 - 237 levels may act as strong resistance.
- For Price to extend the up move it has to sustain above 50 Week SMA , 50% Fib level and the resistance zone of 236 - 237.
- ES Four hour chart shows a range breakdown in favor of bears.
- Price has fallen below 50 Hour SMA.
- Bears need a cloud breakdown in one hour chart to extend the fall.
- 4 Hour chart shows negative price action at the channel resistance line.
- Smaller time frames like 15 Minutes are showing bullish flag pattern.
- Hour chart has to sustain above 20 Hour SMA and 138.10 levels for the bull flag to do well.
- Price falling below 138.10 will weaken the bull flag pattern.
