S&P 500 Futures trend update

• ES 4 Hour chart shows price testing the cloud and 100 period SMA.
• Daily chart looks negative and if the fall continues it may test the 23.6% Fib level and previous resistance zone shown in 3rd chart.

CRUDE OIL falling towards golden ratio

• Golden ratio for Crude oil in monthly chart is seen  near 65 levels.

CRUDE Oil update

 

• Crude oil daily chart shows price testing 20 Day SMA Which may continue to act as resistance level.
• 4 Hour chart shows 80 levels as previous support  which was broken and may act as crucial resistance if price moves up again. Bigger up move possible only if price is able to get back above this zone.
• Weekly chart continues to test crucial support zone. Weekly candles yet to show signs of reversal.

GOLD Support and Resistance levels

 

• 4 Hour charts shows cloud and the 1180 levels as major support
• Golden ratio shown in this time frame is a crucial resistance zone. More momentum for gold bulls only if price is able to trade above this level.
• Falling back below the cloud can result in new lows for gold

ES Trend update

• 4 Hour chart continues to favor bulls as it stays above the cloud and 50 period SMA.
• 1 Hour chart gave a Golden ratio trade today. Range breakout fell back to the golden ratio and a long trade was possible with good risk reward ratio.

GOLD Chart analysis

• GOLD Daily nearing 50 Day sma.
• For Bulls of Gold Weekly Doji at the bottom is looking god for now.
• For this up move to sustain its crucial for Price to stay above the 1180 zone which is shown in the last chart.

NIFTY Chart analysis

• NIFTY Yet to hit the rising resistance line
• MACD Has negative divergence which was discussed in earlier posts But MACD Lines yet to give sell signal.
• Last chart shows a rising support line staying above this bulls will continue to remain strong. Mild weakness on breaking and closing below this line.

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