Ascending Triangle of SILVER

• Silver hour chart gives an ascending triangle pattern.
• But price is finding it tough to sustain above 29.500 levels.
• Now that the price is near the apex of the pattern we will get good direction soon.
• As the pattern is an ascending triangle one can hope for a bullish breakout. One cannot rule out the possibility of the supporting trend line getting broken too.
• CRUDE OIL SUPPORT AND RESISTANCE LINES
  
  

GBPUSD Daily chart analysis

• GBPUSD Looks weak after a support line violation in daily time frame.
• Support line also looks like a sloping neckline of a head and shoulders pattern.
• Pair has good supports at lower 1.53 levels and 1.51.
• Large correction can be expected only if 1.51 is taken out.

BIDU Hour chart analysis

• Bidu hour chart with resistance line and 50 hour moving average.
• Price can continue the positive movement in hour chart only if it breaks above the resistance line and the 50 hour moving average.
• Resisting here will attract selling.
• ES NEGATIVE DIVERGENCE
  
  

S&P 500 Futures Before opening bell

• ES has hit the upper trend line at 1251 giving a higher high for price and a lower high for the MACD Indicator. Problem here is that if ES continues to go up MACD will give higher bars which will negate this divergence.
• So bears should hope that ES does not break and sustain above 1251.
• S&P 500 ANALYSIS AFTER CLOSING BELL
  

CRUDE Oil Support and resistance lines

CLICK THE CHART TO ENLARGE

• Crude oil daily chart with support and resistance levels.
• Breaking above the resistance line and sustaining above 91-92 levels can give 95, 97 and 104
• Breaking below the support line may take crude to 85 levels.

Nifty Futures intraday update

CHART-III

• Finally Nifty futures takes more than 5 steps in the same direction
• Staying below 5990 will give good gains for bears.

CHART-II

• Price in a narrow range as it did yesterday.
• If we breakout above 6040 NF we may see some action. For bears it will be below 6015. Otherwise this sideways movement will continue for some more hours.

CHART-I

• Nifty Futures has given an upper breakout.
• Bulls are safe to hold on as long as 6015 is not taken out by bears.
• Weakness will be seen below 6015.

Nifty Daily Analysis

• Nifty line chart shows the resistance area the index needs cross on closing basis.
• Price stands above 20 DMA and Below 50 DMA. Closing above 50 DMA will favor bulls. Closing below 20 DMA will favor bears.
• S&P 500 ANALYSIS AFTER CLOSING BELL