- Nifty month shows bigger bulls continues to be strong. Bullish structure will remain intact till price stay above 9100 levels.
- Hour is trying to form a bearish Ascending broadening wedge. This is mostly a bearish pattern, The levels for weakness is shown in 15 Minutes chart.
- 15 Minutes chart shown with immediate support levels. Weakness starts below 9600 and 9560 levels.
May 30, 2017
May 17, 2017
- Price having closed below 50 Week SMA is finding it hard to move back above this line. 50 Week SMA line and 200 Day SMA on daily chart may continue to act as resistance for the current bounce.
- Immediate strength and weakness can be seen in one hour chart. For now price is staying below One hour cloud which suggests strength for crude Bears.
- S&P 500 Testing resistance zone
May 16, 2017
- Infosys week chart shows a possible bearish pattern forming. Since the Megaphone is forming at the top of an up trend this is likely to be a bearish one. Having said that price is trading close to a crucial support zone so a larger bounce from here cannot be ruled out.
- Bears will gain strength if the support line shown in second chart is violated on closing basis.
- Infosys bears also need to keep price below 200 SMA to keep the weakness intact.
May 15, 2017
- Nifty weekly MACD shown the good smooth signals in first chart and the Second chart shows the challenging part of trading with MACD. The second chart shows choppy signals this is when trader should use other tools or techniques to select good trades. Trading with the trend or the current direction may help traders to select the right trades.
- Nifty daily yet to confirm weakness. Only once price moved below 20 Day SMA. Next close below this line may give bigger gains for Bears.
May 10, 2017
- ES Daily chart testing the High's. Weakness only if price falls below 2375 levels. Closing below 20 Day SMA will also help ES bears with a correction.
- Bulls may continue the up run, in the same way the Double top possibility too exist. Bears may make a comeback below 2375, Bulls remain strong if price does not close below this level.
- GOLD Trend update
May 9, 2017
- Gold 4 Hour and Weekly charts shows the current down swing. This could last till 1200 levels.
- Weekly chart also shows a possible Triangle contraction. If 1200 is not held on closing basis price may slide further towards the rising support line.
- CRUDE OIL Chart Update
May 8, 2017
- Crude oil 4 hour chart shows price moving back into the falling channel. If the falling resistance line acts as resistance the down trend is likely to resume.
- In daily the Bounce can be large But bulls are likely to become weak by the time they get back to the 200 Day SMA.
May 4, 2017
- Crude oil daily chart has broken the crucial support zone around 47 . Daily trend line too stands broken.
- Weekly chart shows a big bearish candle. Its looking good for bears but week need to close at the current levels or lower. Up moves from the current levels are likely to give shorting opportunities in the coming week.
- Crude oil daily testing crucial support zone at 47. The trend line which has held so far from 35 levels has been violated But bulls still has hope at 47 level. Bigger worry for bulls only if this level gets broken on closing basis.
- Another negative view for Crude bulls is the position below 200 Day SMA, Recent falls below 200 SMA has resolved in favour of bulls But for now 47 level is crucial for this to repeat.
- APPLE Chart Analysis
May 2, 2017
- Apple daily shows an Ascending broadening wedge pattern. This is mostly a bearish pattern. Daily MACD is showing Negative divergence with price.
- But bulls are seeing price above crucial moving averages. 20 SMA is above 50 Day SMA. Weakness in this setup only if price starts to close below 143 levels.
May 1, 2017
- Crude oil daily is testing the trend line once again. Most of the recent test of the trend line has worked in favour of Crude bulls.
- the support zone between 47 and 48 is crucial. If that level breaks then the trend line is not effective any more. If it holds another up swing towards 52 and 53 levels is possible.
- Twitter Month chart shows price trying to hold above crucial support zone.
- Weekly bullish candle shows a strong reversal attempt.
- Daily chart is still below the 200 Day SMA and there is a Death cross in chart. So for a bigger reversal Price must move above 200 SMA.