MCX Gold Analysis

• First chart shows price nearing crucial support resistance zone between 1620 - 1630
• Golden ratio in weekly chart is also around the same level.
• Price has violated 100 Week SMA. Bears of gold need a weekly close below 100 Week SMA to extend the fall beyond the above mentioned support levels. 

EURUSD Support levels

 

 

• EURUSD Testing crucial fib level.
• Daily chart shows price at 50 Day SMA.
• Daily chart is also nearing crucial support resistance zone between 1.3260 - 1.3290

BLACKBERRY Trend line and Golden cross

• Black berry near crucial up trend line in daily chart.
• Price is testing 50 Day SMA. Falling below 50 SMA will make the Golden cross weak.
• Daily cloud too is a crucial support level. Taking support at the cloud or up trend line Black berry may start moving up again.
• ES RISING WEDGE BREAKDOWN

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ES Rising wedge breakdown

• ES Hour chart with Rising wedge has given a breakdown. First chart shows the immediate support or target levels for the breakdown.
• 2nd chart shows a crucial support level in 200 Hour SMA. Bears need to break below this level for extending gains.
• FACEBOOK FALLING WEDGE

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NIFTY Chart update

• Nifty reacted well from the bullish engulfing pattern but failed to close above the crucial resistance levels of 50  Day SMA and 5 Day High EMA.
• Fib levels for the current correction shows price getting resisted at 38.2% Fib level.
• Fib levels for 5549 - 6111 shows support at 38.2% Fib level. Crucial support level is the 50% and 100 Day SMA confluence.

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ES Chart update

• ES Rising wedge has broken the support line But bears aren't getting follow up selling. As the second chart shows price continue to get support near 100 Hour SMA.
• 4 Hour chart shows price yet to show real weakness and still moving inside a bullish channel which has to break for a meaningful correction to happen.
• FACEBOOK FALLING WEDGE

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CRUDE Oil chart analysis

• Middle Bollinger band or 20 Day SMA is acting as crucial support for crude oil. Falling below 20 SMA should result in a fall towards 94.96 level or to 50 Day SMA.
• A Bigger correction may happen only if the support levels shown in 2nd and 3rd chart gets broken. Otherwise price is likely to remain in a trading range.