RELIANCE Communication Analysis

• Rcom is coming down from weekly resistance line.
• Daily chart is showing bearish engulfing pattern.
• Indicators in daily chart may turn in favor of bears in the short term.

SPY Triangle

• Bulls has to protect the bottom that has formed in hour chart near the support line to avoid a bigger correction.
• CRUDE OIL TESTING MAJOR SUPPORT LINE
  

CRUDE OIL Weekly trend line

• Crude oil is about to test the broken support line of a channel in weekly time frame.
• This trend line may act as stiff resistance for crude oil.
• Daily chart is approaching Golden ratio for the fall from 114 levels.
• So these two levels may act as stiff resistance for crude oil in the short term.
• ES HOUR CHART ANALYSIS
  

ES Hour chart analysis

• ES is trying to reverse and price is approaching resistance levels.
• Trend will change in favor of bulls only if they manage to trade above the hourly cloud.
• Fib levels of 50 and 61.8% or the 50 Hour moving average may act as resistance levels.
• SPX ANALYSIS AFTER CLOSING BELL
  

S&P 500 Analysis after closing bell

• SPX has closed below 20 SMA Next in line is 50 SMA.
• There is a small support at 1215 level.
• Four hour chart shows the up trend line clearly violated. Break of the horizontal support line will turn the trend completely in favor of bears.
• Hour chart shows price at 200 Hour SMA. 
• Support levels which are closer are unlikely to be held because of price momentum, It has to fall more. Breaking 1215 will lead to 50 SMA soon.
• COPPER TRIANGLE BREAKDOWN
  

SPX Intraday Update

• SPX is testing its 50 Hour moving average.
• Hour chart is showing support near 1238 levels. Below this level Price may go down till 200 Hour SMA or 1215 levels.
• GOOGLE AT RESISTANCE LINE
  

GOOGLE Daily Chart Analysis

• Google Weekly chart is near resistance line.
• Price is moving up with an unfilled GAP.
• MACD histograms are showing negative divergence. If price does not break above the resistance line we may see a correction in GOOG.
• SPX ANALYSIS AFTER CLOSING BELL