BANK of America Chart update

 

• BAC 4 Hour chart shows price near range Top.
• Range breakout if happens should also take out 50% Fib level shown in weekly chart for a sustained up move to happen.
• Unable to break above 50% Fib level may lead to weakness. 

GOLD Chart analysis

DAILY CHART

• Gold 4 Hour chart need to trade above 1654 level or the 23.6% Fib level shown in second chart for a bigger pullback to happen. Sustaining above 1654 price could target the broken rising support line and 1682 levels.
• EURUSD RANGE BREAKOUT

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ES Chart update

 

• ES 30 Minutes chart shows price taking support at 38.2% Fib level.
• hour chart took support at 100 Hour SMA.
• Both the above mentioned levels must break for a bigger correction to happen. Horizontal support level shown in Hour chart too will continue to act as support 

EURUSD Range update

• If the range breakout sustains price should target 1.3495 levels.
• Price sustaining below 38.2% fib level may take price back into the range.
• Trading above 50% Fib level will extend price towards the golden ratio.
• GLD TRIANGLE PATTERN

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GLD Triangle pattern update

• GLD Weekly chart sustaining below the Crucial support of 100 Week SMA is not good for GLD Bulls. Price must get back above this level to avoid a bigger fall.
• second chart shows a triangle breakdown in daily chart. For GLD Bulls price need to close the gap and get back into the pattern in order to do a Busted triangle.
• For GLD Bulls crucial resistance levels in daily chart will be the 200 SMA and 50 SMA.

MCX Copper intraday update

 

• One hour chart of copper shows a Bearish Head and shoulders pattern. These day's Classic patterns rarely work according to the rules So its better to treat the Neck line as a support level to try long trades. 
• Daily chart also shows 50 Day SMA around the neck line. Bears need a close below 50 SMA for short trades. Price sustaining above 50 SMA should favor long trades.

SBI Chart analysis

• Price testing the up trend line and 100 Day SMA.
• Price also near 50% fib level.
• Breaking below the recent low of 2276 may cause a fall towards golden ratio before the bigger up move could happen. Strength on daily close above 2311 area.

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ES Chart update

• ES 4 Hour chart shows price respecting previous resistance levels as support so far.
• One hour chart shows price in a smaller range above 50 Hour SMA. Breaking below 50 Hour SMA should give a bigger fall possibly towards 50% Fib level shown in last chart.

FACEBOOK Falling wedge

• Facebook hour chart shows a possible falling wedge pattern.
• Hour chart also shows  a bearish cross with 50 and 200 Hour SMA. 
• For a turned around price must trade above 200 and 50 Hour SMA and also the Hourly Ichimoku cloud.

SILVER Chart analysis

• First chart shows price near the apex of a contracting pattern. 
• 2nd chart shows death cross in daily chart. Death cross will do well only if price breaks the rising support lines.
• If the rising support lines are held a bigger up move is possible in Silver.
• GOLD TRIANGLE AND CHANNEL

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