GOLD Month and Weekly chart update

• Week and Day shows price violating crucial support levels.
• Month chart is testing a crucial long term trend line. If this one too goes on closing basis then gold is likely to see bigger falls.

TWITTER Chart analysis

 

• While the weekly and Daily Medium term signals looks good for bears, Bulls may get a bounce from the Golden ratio and the GAP Fading as shown in chart 2 and 3.
• Bears need the weekly candle to close at the lows today. Yesterday's Doji candle may spoil a perfect bearish weekly candle though.

RELIANCE Industries chart analysis

• Reliance industries heading into a resistance line and daily cloud.
• Price need to sustain above 50 day sma to extend this up move.
• Clearing 1010 - 1015 levels on closing basis may give bigger up moves. Weakness at the resistance line may lead to a correction

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SILVER Testing recent lows

 

• Silver daily getting resisted near 50 Day SMA
• Hour chart shows a range breakdown.
• sometimes before a big reversal a false spike below the recent low is possible. If daily does not give a lower close there is hope for silver bulls. But for now it remains a hope for those who were long.
• All major time frames remain in favor of bears.
• SILVER TREND UPDATE

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