August 10, 2016

GBPUSD Chart Analysis

  • GBPUSD Month chart shows price violating Multi Year support line. Month close at the current levels or lower will confirm more bearishness for the pair.
  • Weekly chart shows a range between 1.28 and 1.32 levels. Week close above 1.32 will bring some relief for the bulls of GBPUSD. Weekly close below 1.28 levels will strengthen bears further.

ES Chart analysis

  • ES one hour chart shows price in another range. Resistance line is shown in 4 hour chart. Weakness if price falls below 2173 levels.

CRUDE Oil chart analysis

  • Crude oil trying to take support at 100 Hour SMA.
  • Crude bulls need price to get back above hourly cloud to resume the up move.
  • Weakness only if price falls back below 42.10 levels.

APPLE Chart analysis

  • Apple week shows next resistance at 112 levels. A bigger up move possible for apple bulls if week closes above 112.39 levels.
  • Weakness in apple only if price falls back to 200 Day SMA levels. But for now bulls are able to sustain and move above 200 Day SMA.
  • Month chart too is showing bullish price action so far.

Nifty intraday update

  • Nifty 30 Minutes shows price falling towards the unfilled GAP.
  • More weakness if price falls below 200 SMA in one hour chart. Last attempt by bears to take price below 200 SMA was failed.

Gold support levels

  • Gold bulls trying to take support above 1335 levels.
  • If falls below 1335 price may target 1310 levels. 
  • Bulls will remain safe from a bigger correction if price sustains above 1335 levels.