February 28, 2018

GOLD Chart Analysis

  • Gold daily chart shows price nearing support zone.
  • Hour chart looks like it will give another low towards 1300  -  1310 zone before a bounce can happen. Any fall below 1300 on closing basis means bigger trouble for Gold bulls.

ES Chart analysis after closing bell

  • ES Daily chart shows a bearish engulfing. This set up will look good only if price closes below 50 Day SMA in daily time frame.
  • 4 hour charts  are shown with crucial support and resistance lines. Price for now is  testing the support line of the rising wedge pattern. This pattern mostly resolves in favour of bears after an up move.