March 20, 2015

GOLD Chart update

  • Gold bulls trying to move above the 4 hour cloud. Last attempt to do so was failed.
  • Hope for a bigger bounce for gold bulls depends on the weekly close. If week closes at the current levels or higher the up move may extend into the next week.

Silver Chart analysis

  • Silver trading above the falling resistance line in daily time frame
  • Price trading above 20 Day SMA.
  • Immediate resistance levels are 38.2% Fib level and 50 Day SMA.

Facebook new High's

  • Facebook making new high's
  • Weekly MACD is looking good for bulls. Bulls need to confirm this price action on weekly closing basis.
  • For bulls price need not close below 80 levels. Hope for bears only if this happens.

Falling Wedge of Tata Steel

  • Falling wedges acts mostly as bullish reversal pattern.
  • Weekly chart is nearing a crucial support zone between 317 - 330. Bigger falls possible if this zone is broken.
  • Tata steel bulls must sustain above 342 which is the golden ratio. They must also move above the daily cloud for a possible reversal to start.

GOLD Trend update

  • No major change in the trend of gold yet. Only the weekly time frame is trying to put up a Bullish candle. For a possible weekly bounce to happen Gold bulls need to close the week higher from the current levels.