October 4, 2016

S&P 500 Futures support and resistance levels

  • ES 4 hour chart shows price contraction. Breakout or breakdown from this pattern should takeout the Moving averages shown in daily time frame for bigger moves to follow.

GOLD chart analysis

  • Weekly chart shows crucial support zone around 1300 levels. Gold bears need price to stay below 1300 for bigger correction to follow.
  • 4 Hour time frame is shown with 20 Period SMA. If price moves back and sustains above this line a Swing buy is possible in 4 hour time frame. For bears price need to stay below 1300 levels.