GOLD Weakness at Key resistance levels

• Weakness in weekly chart at 100 Week SMA
• More weakness if 200 Day sma is broken
• 4 Hour chart is showing a possible Topping pattern. Bulls need to get back above this pattern to avoid bigger falls.

S&P 500 Futures Testing support levels

• ES Daily testing 200 SMA again
• For Bulls of ES The support levels shown in 4 Hour chart needs to be held.
• One hour is trending below the cloud.

Bank Nifty Bearish PIN BAR

• Bank nifty Month chart yet to show any weakness.
• Weekly chart has been diverging for quite sometime without any meaningful correction
• Daily chart has given a Pin Bar Reversal candle which may be the start of a correction. This candlestick pattern needs to be confirmed with bearish price action.

NIFTY Chart update

• Nifty month chart shows no weakness yet.
• Bearish candles during this up trend is followed up by bigger bullish candles.
• The resistance line shown above has to work for bears to stop the current up move. If price closes outside the boundaries of the wedge pattern, Bigger up moves are likely.

Reliance power weekly resistance line

• Reliance power has moved above the falling resistance line shown  in weekly chart.
• Daily chart shows a range breakout targeting 68 levels.
• 68 is former support may act as resistance now. For bigger up moves price must move above the daily cloud 

GOLD Trend update

 

• Gold Testing weekly cloud. Price is pausing at the cloud and 100 Week SMA
• For now bulls are staying above 200 Day SMA. Some weakness is seen in  200 SMA. Bigger worry for bulls only if price falls back below 200 SMA. 

NIFTY Weekend update

• Nifty moving towards its resistance line with Negative divergence in RSI.
• As price is still in a bull market. The resistance line may give another correction for the bulls to reenter.
• Weakness only if price sustains below 8626 levels.