September 13, 2013

NIFTY Weakness near resistance line

  • Nifty daily chart shows a bearish engulfing pattern near the resistance line, But price is still above 5 Day High EMA and 100 Day SMA. Weakness only on price falling or closing below these two levels.
  • Last chart shows the cloud breakout getting tested. Price has to sustain above the cloud for a bigger up move to happen.
  • GOLD Bearish price action

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