August 26, 2016

Gold chart update

  • Gold bulls unable to sustain above the broken support zone of 1335.
  • One hour chart too shows price falling back into the bearish channel
  • Gold bulls need at least an hourly close above 1335 for gaining strength.

ES range update

  • Price remains range bound.
  • Bulls testing the top of the range.

GOLD Chart update

  • Gold bulls need to break and sustain above 1335 and the falling resistance line shown in one hour chart for a bigger up move to happen.
  • Unable to break above these levels may resume correction.

ES Analysis before opening bell

  • Crucial levels for the next few hours are 2175 and 2165,
  • 4 hour charts shows price positioned in favour of bears for now. 

Nifty Bears near support line

  • Nifty one hour chart shows price breaking below the diamond pattern. But bigger time frames suggest that nifty bears need to do more for a bigger fall to follow.