CRUDE Oil chart update

• Crude oil daily chart shows weakness at resistance zone.
• Price must sustain above 4 hour cloud to avoid bigger correction.
• Close below 23.6% Fib level and cloud may give a triple top formation in daily chart.

GOLD Chart update

• Gold continues to stay below the broken triangle pattern and support zone.
• The golden ratio is getting tested now. If the Golden ratio is not held bigger falls are possible.
• Weekly chart shows possibility of a triple bottom in the making.

SBI Intraday update

 

 

• One hour chart of SBI is seeking support at Golden ratio and 50 Hour SMA. 
• SBI Bears need a close below these levels to extend the weakness in weekly chart. Weekly chart is moving toward a Dark Cloud cover pattern which can be confirmed only if the current weekly candle engulfs 75% length of the previous bullish candle.
• If price takes support at 50 Hour SMA an up move is possible and thus avoiding a bearish pattern in weekly chart.

RELIANCE Industries Chart Analysis

• Reliance Industries daily chart is moving in a range between 1068 and 1145.
• Price if takes support at Low EMA and Range support zone could start moving up again.
• Weakness on closing day below 1068. 
• Weekly candlestick so far shows bearishness, Price must close higher to avoid a bearish engulfing pattern.
• GOLD TRIANGLE BREAKDOWN

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