- One hour chart of silver shows a range breakout.
- 4 Hour chart shows price at 38.2% Fib level. Price must cross and sustain above this level for a bigger up move to happen.
- Weekly chart shows the broken support level at 26.00 - 26.15 which may act as stiff resistance if the up move continues.
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FOUR HOUR CHART
15 MINUTES CHART
- Four hour chart shows price moving towards the top of the range.
- 15 Minutes chart shows up trend of this time frame safe above the cloud. Cloud break will weaken this up move. Sustaining above the cloud may lead to a breakout from the range.
- Gold 4 Hour chart shows price testing crucial Fibonacci resistance levels.
- One hour chart shows a bullish cross in chart with 50 and 200 Hour SMA. Price sustaining above these moving averages should result in a bigger pullback.
- Daily chart shows the target for this up move at the broken support line of the channel. A bigger up move can happen if price reenters the broken channel.
- Weakness below 1425 and 1400.
- EURUSD Falling wedge has given a breakout.
- Immediate resistance level is the 23.6% Fib level. Sustaining above this level price may give a bigger up move towards the levels mentioned in first chart.
- Crucial support for this time frame is 200 period SMA.
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- Blackberry charts shown with multiple resistance levels.
- Daily chart has to may extend the current up move towards upper bollinger band and the Triangle resistance line.
- Weekly chart also shows 100 Week SMA near 15.5 which may act as resistance.
- Tata Steel trying to stay above 20 Day SMA. Previous attempt to stay above this was failed and resulted in a bearish trade.
- Price also continues to trade below the falling resistance line.
- Weekly MACD is looking good for bulls But price yet to trade above 5 Week High EMA which is at 320 levels.
- So Strength only if price is able to trade above 319 - 321 levels. Weakness on closing below 300 levels
- SBI CHART ANALYSIS
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- SBI Daily chart shows a bearish engulfing pattern.
- Weakness is seen at the Golden ratio which increases the significance of the pattern.
- Any candlestick pattern needs confirmation so in this case a one should also look at the weekly chart. Weakness will extend if price starts to trade below 20 week SMA. A weekly close below this will favor bears of SBI.
- TATA STEEL CHART ANALYSIS
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- ES one hour continues to move in a range.
- 4 Hour chart shows price movement between the Golden ratio and 78.6% Fib level.
- As price is near 50 Hour SMA this range may get resolved soon. For a bigger move price must trade either above 78.6% Fib level or below Golden ratio shown in last chart.
