CRUDE Oil support and Resistance levels

• Crude oil daily chart pausing at 38.2% Fib level. More falls only on breaking below this level.
• The broken support at 93.95 and 50 Day SMA Will act as resistance on the way up.
• GOLD TREND UPDATE

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SILVER Trend update

 

• SILVER 1 Hour chart shows a price range of 33.73  -   34.99
• 4 Hour chart shows price seeking support at 50 Period SMA Which may give an upper breakout from the range in 1 Hour chart.
• Bulls must breakout above 78.6% Retrace level for moving towards 37 levels. For now this level is acting as stiff resistance.
• GOLD TREND UPDATE

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GOLD Trend update

 

• Gold 4 hour near channel support line.
• Price near 50 Period SMA.
• 4 Hour cloud too has helped gold bulls on dips so far. An up move is expected from the current levels. Breakdown below the cloud may start a bigger correction.

RELIANCE Intraday update

• Hour chart shows crucial support level at 824.
• 50 Hour SMA is around 828.
• Breaking below 50 Hour SMA and 824 will extend the correction towards 820 - 806 levels.
• Holding above 50 Hour SMA Will resume the up move towards 853 levels

NIFTY Intraday update

• This up move in hour chart has left two gaps unfilled. 
• Falling below 50 Hour SMA will fade the first of those gaps between 5447 - 5526.
• Up trend will be safe above 50 Hour SMA.
• Pattern in daily chart looks weak. Price has to trade above 5585 level to fade Today's morning gap. Above 5585 - 5600 level bulls may resume the up move.

SBI Chart Analysis

• SBI Testing the falling resistance line discussed in an earlier post.
• If price does not pull back from here then the targets could be near 2252 levels.
• Major resistance points will be the weekly cloud top and 100 Week SMA.
• Price testing 78.6% Fib level, Trading above this level will extend the up move towards 2252. 
• Bears need a weekly close below the falling resistance line.
• CRUDE OIL RISING WEDGE BREAKDOWN

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CRUDE Oil Rising wedge update

• Crude oil daily chart is falling from a rising wedge pattern.
• Daily candle closing below 50 Day SMA may extend fall towards 86.90 levels.in the short term.

GOLD in a Range

 

• Gold one hour chart shows a range between 1752 - 1779.
• Four hour chart shows price sustaining above the cloud and the current range too is likely to give an upper breakout.
• CRUDE OIL BREAKING SUPPORT LEVELS

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