- ES 4 Hour chart shows price moving around the recent support zone.
- Bears need a daily candle to close below the support levels shown in chart 2 for bigger falls to follow.
- All Big corrections that happened recently ended at or near 200 SMA. So bulls can expect this trend to continue.
- Gold daily chart shows a bearish shooting star candle
- Weakness is seen at 200 Day SMA
- For gold bears price need to sustain below Hourly cloud.
- Possible continuation pattern in one hour chart.
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- Immediate support levels for apple are 38.2% Fib level and 50 Day SMA. Recent swing low of 121.63 must hold on closing basis to avoid a bigger correction.
- Stronger bulls on daily closing above 129.24 levels.
- CRUDE OIL CHART ANALYSIS
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- Crude oil daily chart shows price pausing at 100 Day SMA.
- Bulls of Crude oil needs to stay above daily cloud to keep this bounce going.
- Rising support for price is shown in one hour chart. Weakness in hourly chart if price starts to trade below the cloud in this time frame.
- Nifty weekly chart shows price below 20 Week SMA. Recent dips below this level did not last long. Bulls managed to recover without much damage. This time price movement looks different.
- Crucial supports on the way down are 200 SMA and the rising support line from 5100 levels.
- NIFTY's Bearish Engulfing and Month candle
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