ES chart analysis

 

• ES Daily shows price up moves struggling to cross or close above 200 Day sma. 
• Week is trying to stay above 50 Week sma. Weekly close below this line will extend gains for bears. Bulls need a close above 200 day SMA.

GOLD Trend update

 

• Gold daily testing support zone.
• Week is trending below the cloud. If the weekly time frame is to continue the trend daily support zone is at risk. Weekly cloud continues to act as stiff resistance.
• If bounces from daily support zone an up move possible towards the upper end of the range shown in first chart

Nifty Intraday update

Nifty one hour chart

• One hour chart shows price testing cloud base. Bears need a close below the cloud to extend gains. Bulls hoping for an intraday reversal from this level.
• Daily looks bad for bulls so far. But bears need a close into the cloud to extend weakness into the coming days.

Nifty Bullish W and daily cloud

• Nifty is above 100 day SMA and the Golden ratio. Although in positive zone yesterday's candle shows indecision. Bulls are seeing a possible Bullish W pattern with possible targets around 8800 levels. For that price need to stay above the daily cloud. Closing back into the cloud will strengthen bears.