- GBPUSD Monthly chart shows a bearish breakdown from a triangle pattern.
- Daily chart too shows a Double top breakdown.
- Weekly chart shows price at a possible Support line. Holding this line a bounce is likely to happen.
- As we approach month end if the monthly trend is to become stronger then Weekly support line is unlikely to hold.
- EURUSD CHART ANALYSIS
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- EURUSD Weekly chart shows the trend line violating from 1.20 levels.
- Price falling towards crucial support of 200 Day SMA.
- Confluence of support at 50% Fib level and 200 SMA may act as strong support level.
- ES CHART UPDATE
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- QQQ Daily chart shows price testing 100 Day SMA.
- Below 100 SMA and 66.17 price could fade the GAP shown in second chart.
- Last chart the weekly time frame shows a possible bearish Head and shoulders pattern. For now price may move towards the rising trend line from 50 levels.
- SPX ANALYSIS AFTER CLOSING BELL
- IWM SUPPORT LEVELS
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- ES 4 Hour chart is consolidation below 200 Period sma. It was a similar price action yesterday which was below 100 Period SMA.
- 4 Hour has clearly fallen below the Ichimoku cloud which will put pressure on bulls at higher levels.
- One hour chart shows another bearish flag kind of consolidation which happened yesterday.
- SPX ANALYSIS AFTER CLOSING BELL
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- IWM Has given another bearish engulfing pattern in daily chart.
- Immediate support level at 23.6% Fib level and 88.69.
- Breaking the above mentioned support level may lead to 50 Day SMA and the Unfilled GAP shown in the last chart.
- SPX ANALYSIS AFTER CLOSING BELL
- NIFTY Falling from the head and shoulders pattern.
- Price has clearly violated 100 Day SMA. Bears need a daily close below 100 SMA for further gaining strength.
- For bulls approaching Golden ratio may give a hope for reversal Any reversal from the current levels should close back above 100 SMA for a meaningful pullback to happen.
- TATA Steel daily chart falling in a channel.
- Falling below 358 may extend the fall towards 347 levels.
- Monthly chart shows chances for even bigger falls if 347 levels does not hold.
- DLF BEARISH ENGULFING PATTERN
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- DLF Daily chart shows a bearish engulfing pattern.
- For bears price need to fall below 20 Day SMA for a bigger correction to happen.
- Weekly chart shows a Rounding bottom pattern which may avoid a breakdown.
- TATA STEEL CHANNEL AND SUPPORT LEVELS
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- First chart shows the beginning of the fall from the weekly resistance line.
- Second chart shows the next level which bears need to takeout to extend the fall.
- Finally the last chart shows possible depth of the fall if MACD Sell signal gets confirmed.
- BANK OF AMERICA CHART UPDATE
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- GOLD 4 Hour chart with falling resistance line.
- Other two charts also shows potential resistance levels. 50 Period SMA and 38.2% Fib levels may act as resistance levels.
