September 8, 2013

Gold Bull Flag and support zone

  • Gold 4 hour chart shows a Bull Flag pattern.
  • Price need to trade above the 4 Hour cloud for the above pattern to perform well.
  • Weakness on trading below 1350 and the 200 period SMA.
  • SLV WEEKEND UPDATE
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September 7, 2013

SLV Weekend update


  • SLV Weekly chart shows price weakness near the GAP. 
  • Presence of falling resistance line and 38.2% Will make it tougher for SLV Bulls to move up.
  • Strength on price moving into the GAP area on daily closing basis. Further Weakness below 22.18 and 22.02 levels.
  • S&P 500 ANALYSIS AFTER CLOSING BELL
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S&P 500 Analysis after closing bell


  • SPX Daily MACD has given a bullish cross. Recent signals of MACD in daily time frame has worked well.
  • Today's up move was stopped by 50 Day SMA. For bulls need a close above this level for a bigger up move to happen.
  • Weekly chart looks good for bulls as price managed to hold above the rising support line. Strength for the coming week above 1664-1669 levels. Bearish on falling below 1628 levels.

September 6, 2013

CRUDE Oil resistance levels


  • Crude oil 4 hour chart shows price trading above the crucial resistance zone near 108. Next resistance level is at 112.21 levels.
  • Fibonacci levels shows price near 78.6% Fib level. If this level fails to stop crude oil bulls then 112 levels are possible.
  • Weekly candle is trying to make a bullish close above 110.54.

ES Resistance levels


  • ES 4 Hour chart shows price near multiple resistance levels.

Bank Nifty Chart analysis



  • Bank Nifty closed above 20 Day SMA and 5 Day High EMA after a long while.
  • Daily chart is testing 38.2% Fib level. Sustaining above 38.2% Fib level price is likely to target the 5 Week High EMA and the Upper Bollinger band.
  • S&P 500 EOD Update
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S&P 500 Analysis after closing bell



  • SPX Daily chart shows resistance at 20 Day SMA.
  • 38.2% Fib level too is acting as resistance.
  • Above levels may not mean much if the weekly rising support line is not broken soon. Holding above the support line price is likely to move up.