- ES 30 Minutes chart shows price near the cloud. Cloud of this time frame has acted as good support recently.
- 4 Hour time frame with Fib levels shows potential resistance level in 78.6% Fib level. This level must be crossed soon to avoid a correction.
- Daily chart shows price above the crucial 50 Day SMA and a previous support resistance zone. Sustaining above this zone will favor bulls of ES.
- SILVER Near Range Top
- Axis bank is likely to see high volatility from Friday because of the stake sale by the government. Stock is showing a Bullish Falling wedge reversal pattern.
- Price continues to move with reducing volume. Price and volume breakout may give an extended move for the stock.
- Nifty Chart shows price continuing to trade in a range with Major low at 50 Week SMA and 38.2% Fib level.
- Positive if stays above 6130 levels. Weekly close above 23.6% Fib level shown in last chart may also help bulls to move up further.
- SILVER Chart analysis
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- Silver daily chart shows price near the top of the range.
- Fib levels too shows price testing the resistance zone just above the 23.6% Fib level.
- Only positive here for silver bulls is that price is staying above the falling resistance line form 25 levels.
