- Gold daily continues to show weakness as price nears 200 Day sma.
- Fib chart shows a range between 23.6% Fib level and 50% Retrace level.
- 4 Hour chart shows good price action for gold bears But this needs more follow up. Bigger weakness only below 1175 - 1180 levels.
- For this bounce or minor up trend in crude oil the 54 - 55 zone is crucial. Crude oil bears need price to fall back into the range.
- 200 SMA in one hour chart and 4 Hour cloud are crucial levels to hold above.
- Broken range top is trend deciding level. Bulls must stay above this zone to avoid bigger weakness.
- ES Trend update: CLICK Here
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- ES 4 Hour at resistance level
- Daily chart is also testing high's But daily TF has two resistance levels to cross to complete a breakout. Bears need a bearish candle at this level to keep price range bound.
- The Bullish rule is still intact as major Lows are made higher. For bears this set up needs to change for bigger falls to follow.
- CRUDE Oil Analysis: CLICK Here
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- Dail chart shows price falling towards 200 SMA which may act as support in case it gets tested.
- Week and Month charts shows bigger possiblities for bears But these needs confirmation. Falling below 8269 and 50 Week SMA is necessary to confirm bigger weakness for nifty bulls.
- Crude oil is likely to target its 200 Day SMA as short term target.
- Range breakout target is about 64 levels as shown in daily time frame.
- Weekly is testing 23.6% Fib level. More strength if price sustains above this level.
- EURUSD Daily chart shows weakness at cloud and 50 Day SMA
- Bears of EURUSD Will gain more strength when price falls below Hourly cloud.
- Up trend of BN is getting tested. Pattern in daily chart looks Topish.
- Price is below crucial moving averages.
- Bulls must hold above 200 SMA and 17719 levels on closing basis to avoid a bigger correction. Long term up trend can resume if these levels are held.
- CRUDE Oil analysis: CLICK Here
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