ES Trend update

• ES one has fallen below 50 Hour SMA and the hourly cloud.
• Tills price stays below them it will face selling pressure at higher levels.
• But for bears a bigger fall is possible only on breaking the up trend line of four hour chart shown in the  last chart. Staying above this line should give an opportunity for bulls to move up again.
• SPY HOUR CHART ANALYSIS

NIFTY Chart Analysis

• Stochastic has reached oversold levels, Now for bulls price has to sustain above 200 SMA for a turnaround to happen. Closing below 200 SMA will strengthen bears further.
• Price has been closing below 5 Day HIGH ema. For a turnaround to happen price has to close above 5 Day High EMA.
• COPPER RANGE UPDATE

CISCO Chart analysis

• CISCO Weekly chart shows the up move after its weekly close above 200 Week SMA.
• Next major resistance or the target for this up move is near 22.33 levels.
• Weekly chart also shows price moving up from 50% Fib level, If the momentum sustains price should hit the golden ratio soon.
• SPY HOUR CHART ANALYSIS

COPPER Range Update

• Copper continues to be in the range discussed in an earlier post.
• Four hour chart shows a contracting a triangle. Price may start moving up towards the upper end of the range again. Larger move will happen only when the triangle and the range gets resolved.
• For the larger move to be stronger one week needs to close above the Golden ratio or below 50% Fib level.
• SPY HOUR CHART ANALYSIS

SPY Hour chart analysis

• SPY Hour testing important trend lines and support levels.
• Closing below 100 Hour SMA and the hourly cloud may extend the fall.
• Getting support here may result in an up move towards 140.50 levels.
• Breaking these two levels may target 138.50 area.

ES Hour chart analysis

CHART-II

• Levels discussed below has broken, price moving towards golden ratio.

CHART-I

• ES Hour chart approaching 200 Hour SMA and 50% Fibonacci levels.
• This level may give a bounce.
• If these two levels does not hold ES will fall towards the golden ratio.

CRUDE OIL Chart Analysis

• Crude oil near the rising trend line and 50 Day SMA.
• These two levels may act as support for an up move.
• Correction only if daily candles close below these two levels.