- Google month chart is nearing its resistance line.
- Daily is yet to show weakness. Price if gets resisted at 78.6% and closes below 10 Day EMA may result in a correction.
- Hour chart too looks strong for the bulls. Price continue to trend up above 50 Hour SMA and the hourly cloud. Weakness only if price starts to trade below 50 Hour SMA.
- CNX IT is holding above 50 Day SMA.
- Price if bounces from the cloud should result in an up move.
- Daily close above 20 SMA may confirm a breakout.
- Weekly chart shows rising support levels which may resolve on the up side.
- BANK NIFTY CHART ANALYSIS
- Bank nifty price near the apex of a contracting pattern should give a breakout or breakdown soon.
- Lower bollinger band and 200 SMA may act as strong support.
- Close above 20 Day SMA should result in a breakout.
- Weekly support and resistance levels too is holding
- CNX - IT CHART ANALYSIS
- EURUSD has broken out of the inverted head and shoulders and is moving into a stiff resistance zone.
- Break above 1.3385 should take price towards the 200 SMA and the resistance line. Daily candles need to close above these levels for EURUSD to continue the current up move.
- Falling below 1.3280 will favor a bearish trade on this pair.
- Gold daily chart with resistance levels.
- 50 Day SMA and previous support levels may act as resistance for the current up move. Trading above these levels may leads to a bigger up move.
- COPPER IN A RANGE
- ES Fibonacci levels and previous resistance levels which may act as support levels.
- Rising 50 Hour SMA too may act as support level.
- S&P 500 ANALYSIS AFTER CLOSE
- Price is near the support line of the descending triangle which may result in a bounce.
- For the bounce 5250 and 20 Day SMA will be resistance levels. Another hit at the resistance line will make a good descending triangle.
- Week MACD looks good for bears but price refuses to close below 50 Week SMA.
- India VIX is near the resistance line. If VIX starts to correct we may see a decent bounce in Nifty.
- S&P 500 EOD UPDATE
