December 16, 2017

NIFTY Weekly MACD Reversal set up

  • Weekly chart is shown with MACD.
  • The reversal Marked with Alphabet A is a straight forward reversal. But This time price action looks like the 1 2 3 Reversal shown on the left hand side. Remember its only similar , It may not be exact. In short we are looking at  a possible Triple negative divergence before a major correction could start.

Gold Weekend update

  • Gold Hour shows bullish price action.
  • Hourly cloud is the crucial support for this bullish swing. Close below the cloud will negate this bullish move.
  • Weekly bollinger band shows price bouncing from lower BB. If weekly high's are broken price may target the Middle BB.