May 15, 2015

GOLD Chart analysis

  • Gold trying to stay above 200 Day SMA.
  • Daily chart also shows price testing crucial resistance zone around 1220 levels.
  • This area is also the 50% Retrace level so a crucial area for bulls to cross above for extending the bounce.
  • Silver Triangle Pattern: CLICK Here

ES Ascending triangle update

  • ES 4 Hour and One hour chart moves out of the Ascending triangle patterns. 4 Hour also looks like an Inverted Head and shoulders pattern.
  • If price sustains above the Neck line, IHNS Should give about 40 points on the upside.
  • Bulls need a 4 Hour closing above the resistance zone to confirm strength.
  • ES Ascending triangle: CLICK Here

CNX IT Chart analysis

  • CNX IT at a support line and is near Weekly Ichimoku cloud.
  • Weekly RSI is fast approaching oversold region.
  • If the recent lows around 10600 are held a reversal can be seen. IT bears need price to close into the weekly cloud.