- Last chart the monthly time frame shows price in contraction. It should move one way or the other. If price holds 195 levels a reversal is possible. One can wait for a monthly bullish candle to confirm the medium term reversal. If 195 does not hold then its more bad news for the long term holders of Tata Steel.
- NIFTY Weekend update
August 30, 2015
- Weekly chart shows price moving below the neckline but bulls managed to take it back into the pattern again. Bears need a close below the weekly cloud and the neckline of the head and shoulders pattern for bigger falls to follow.
- Bulls will face resistance in the GAP and the crucial moving averages shown in the last chart.
August 28, 2015
August 27, 2015
- Gold week and daily chart shown with resistance levels. Daily shows bulls struggling as price moves towards 200 SMA. Gold bulls need a daily close above 200 SMA for potential reversal to happen. But then the Weekly cloud is acting as long term resistance which is going to be tough to cross above in the near term.
August 25, 2015
- The effect of bearish engulfing at top never went away. After few months of sideways move the fall has started again. For now the GAP in weekly chart is crucial if price continues to stay below it another big fall is possible. Bears need price to stay below the weekly cloud on closing basis to extend gains. Cloud base may act as support for sometime.
August 24, 2015
August 23, 2015
- Crude oil month chart shows price moving towards the lows made in 2008 and 2009. Price has violated crucial support zone in daily chart staying below this level will take price towards the lows of 2008 and 2009.
- Crude bears will remain strong as long as price stays below the 4 Hour cloud. any hope of a reversal only if price moves above this cloud.
- ES WEEKEND UPDATE
August 20, 2015
- Gold moving towards the broken support zone in weekly time frame. Daily chart shown the same levels with crucial fib levels.
- 4 Hour chart shows the start of a trending up move. This bounce will be safe till price stays above the cloud in this time frame. Price also needs to move above the previous broken support zone which may act as resistance now.
August 19, 2015
August 18, 2015
- The Monthly candle shows the reason why DLF moved towards its 200 Day SMA. Now if the monthly candle decides to work well this can be a bigger bounce towards the falling resistance line shown in Monthly chart. But for that scenario to work price must stay above 200 Day SMA and get out of the bearish descending triangle pattern shown in weekly chart.