Triangle pattern of Gold

• Gold 4 Hour chart shows a triangle shaped contraction. Breakout can give bigger moves. 
• Breakout or breakdown can give good direction if price violates either the 100 Day SMA on the upside or 50 Day SMA on the downside.

NIFTY Chart update

• Nifty Bulls managed to hang above 200 Day SMA. More panic for bulls only on price closing below 200 SMA.
• Daily chart shows the falling 5 Day High EMA as immediate resistance level. If price reverses the broken support zone of 6129 - 6139 may act as resistance.
• Weekly chart shows candle taking support at 50 Week SMA. Bears need to close the week below this line to extend gains.

SPY Analysis before opening bell

• Chart one and two shows important support lines, In that 173 is crucial to hold if not we may see price testing 200 SMA at 170 levels.
• EURUSD Support and Resistance levels

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EURUSD Support and Resistance levels

• EURUSD Daily chart shows the possibility of a bounce from near 200 Day SMA.
• Bounce is likely to be small with Month chart showing a larger bearish possibility.

Nifty near 200 SMA

• Nifty near 200 SMA. Recent fall below 200 SMA did not last long. Bulls may hope for the same scenario to play out. But when the trend is strong it usually favors one who follows and not the one who predicts.
• Daily closing below 5972 will weaken things further for Nifty bulls.
• Possible fib support at 38.2% Fib level (5918) If 5972 does not hold on closing basis.

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DOW Jones Testing 200 Day SMA

• First chart of Dow Jones shows price violating crucial support zone.
• But the second chart shows some hope for bulls as price is trying to stay above 200 Day SMA. Hope of a reversal will vanish if price closes the day below 200 Day SMA.
• BEARISH PATTERNS OF FORD MOTORS

Three Black Crows of Citigroup

• Three black crows is a reliable bearish reversal pattern. One has to see several things before taking a trade based on this pattern. This pattern may work well if it forms at an up trend. Before this pattern gets confirmed the stock have already fallen a lot, So one has to make sure that your not going short at a crucial support zone.
• If Citigroup starts to move up and shows weakness near 50 Week SMA it will be a safe area to go short.
• APPLE EVENING STAR CANDLESTICK PATTERN

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