Nifty morning update

 

 

• Nifty daily moving into the daily cloud. Price likely to move towards the top of the cloud, The recent swing high is 8274. For a bigger reversal price need to stay above the cloud which is unlikely to happen.

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Gold 4 Hour Technical analysis

• Gold 4 hour staying above cloud and 100 Period SMA will favour gold bulls. Weakness in price structure only if price starts to stay below 1144 levels.
• Crucial resistance in chart is at 1167. Sustaining above 1167 will add more strength for Gold bulls for targets like 1180 and Higher. Below 1144 the recent lows are likely to be tested.
• ES Year end charts

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ES Morning update

• Price moving below crucial support levels for this time frame.
• 200 Period SMA Is the crucial moving average above which ES bulls need to stay to avoid a bigger breakdown.
• ES Year end charts

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NIFTY First Update for the New Year

• Nifty month chart shows the bounce from 7900 zone.  This is more likely to be a bounce rather than a reversal towards 8900 zone.
• Weakness may resume on any of the resistance levels shown in charts.

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S&P 500 End of Year Charts

• Month Time frame continues to look strong. The long term structure will show weakness only if price falls back into the Range between 1800 - 2134. So weakness can be confirmed only on a Month close below 2134 levels.
• Weekly weakness after the Negative Divergence. More weakness below 2191 levels.
• Daily Time frame shows price below 20 Day SMA. But price continues to stay above 50 and 200 Day SMA.
CRUDE Oil support and resistance levels

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TESLA Bearish price action

• Daily chart shows price moving below 200 Day SMA. Closing the daily below 200 SMA will strengthen bears further.
• Weekly chart likely to give a big upper shadow if closes at the current levels or lower. Bulls badly need to close the week higher to avoid such a scenario. 
• Hour chart shows price violating the trend line from 182 levels.
• Bulls need to do more here to keep the up move from 180 levels intact If not weakness is getting confirmed at 200 SMA.
• CRUDE Oil support and resistance levels

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S&P 500 Futures technical analysis

• ES 4 Hour has broken the swing low of 2243. Next possible support at 2233.
• 4 Hour time frame shows price below 100 Period SMA. Bigger weakness only if price break below 200 Period SMA and 2232 levels.
• CRUDE Oil support and resistance levels

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