GOLD Chart analysis

• Gold is nearing a crucial resistance line. Gold bulls need a breakout here and has to sustain above 50 Day SMA for a sustained up move to happen.
• Bearish case for gold is the Descending triangle shown in daily chart. Gold bears need a daily close below 1270 for a bigger correction to happen

ES Support and Resistance levels

 

 

• ES Daily chart shows price near rising support line
• 4 Hour chart shows Golden ratio acting as support.
• Last chart shows a slopping resistance line in four hour time frame which is working well for bears so far.
• US Dollar Weekly support line

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USDINR Support levels

 

 

• Price near 100 Day SMA and 50% Retrace level. 
• Holding above 100 SMA will be negative for the banking Index. BN Bulls need a daily close below 100 SMA for the USDINR Pair which should result in an up move for Bank Nifty.
• US Dollar Weekly support line

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JP Morgan Chase Weekend update

• Weekly chart of JPM shows a bearish possibility. Price is trading below the weekly up trend line. Sustaining below this line price is likely to face selling pressure at higher levels.
• Immediate resistance levels are at 50 Day SMA and the daily cloud. Only a breakout above the daily cloud on closing basis may change the bearish Scenario for JPM.
• US Dollar Weekly support line

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