- SBIN is closer to its Support and resistance lines in weekly chart.
- For bigger up moves price has to close above 38.2% Fib levels or close the week above the middle Bollinger band.
- Getting resisted at 20 Week SMA will favor bears. 23.6% Fib level has acted as support on weekly closing basis. So Week closing below 23.6% will be bad for bulls of SBIN.
- S&P 500 EOD UPDATE
- SPX Daily has closed above 200 SMA.
- Things can get better for bulls above 1292.
- Hourly chart too are not showing any weakness.
- Bears has to wait and see if any weakness is seen at 1292.
- Failing to break above 1292 may continue this range of 1215 - 1292 for some time.
CHART-III(UPDATED)
- Copper has reached the 200 Period SMA of four hour chart as discussed in the below chart. Correction will continue if four hour candles start to close below this moving average.
CHART-II
- Copper has given a good breakdown from its triangle. Now price may target 200 Period SMA for four hour time frame as first target.
CHART-I
- Copper is showing a triangle pattern.
- Important support and resistance levels are 3.4520 and 3.6420
- Breakout from triangle has to take out either support or resistance levels for a bigger move to take place.
- MCX COPPER CHART
- SILVER WEEKLY CHART ANALYSIS
- ES is sustaining above the resistance line of the triangle shown in four hour chart.
- Price is also breaking above the 200 SMA again. Sustaining above 200 SMA can take ES towards the drawn resistance line.
- Price trading below 200 SMA will favor bears.
- SILVER CHART ANALYSIS
- Crude oil has given a breakout above 94 levels.
- Sustaining above 94.63 crude can target 99 - 100 Levels.
- Falling below 94 levels will be negative.
- SILVER CHART ANALYSIS
- TCS price converging between a support and resistance line in daily chart. Price may soon give a good breakout or breakdown.
- Daily chart is showing negative divergence with MACD indicator. But bulls are holding above 50 and 20 Day SMA.
- At this stage if price falls and closes below 20 SMA we may see an extended correction in TCS..
- NIFTY WEEKEND UPDATE
- Fibonacci levels shows price falling from 61.8% Fib level during the first retrace.
- This time price is closer to 50% Fib level. Price is also testing 50 Week Moving average. Closing above the moving average can give higher targets for Silver.
- Unable to cross 50 Week Moving average will be negative at this point of time. But in the medium term silver may see more high's towards 61.8% fib levels Before plunging again.
